Softbank and Uber have come to an agreement on a tender offer this week, which values Uber at $48 billion.
Uber stated, “We look forward to working with the purchasers to close the overall transaction, which we expect to support our technology investments, fuel our growth, and strengthen our corporate governance.”
According to the Wall Street Journal, Softbank will more than likely require 15% of the company with another 5% available to outside bidders.
According to Softbank, the investment should close in January.
Uber has been said to be considering an IPO for 2019.