© Reuters. The new GM logo can be seen on the facade of General Motors headquarters in Detroit, Michigan, US, March 16, 2021. Photo taken March 16, 2021. REUTERS/Rebecca Cook
(Reuters) – General Motors (NYSE:) said Friday it had struck a deal with SoftBank Vision Fund and certain of its subsidiaries to acquire the fund’s ownership stake in GM Cruise Holdings LLC for $2.1 billion.
The company said it will make an additional $1.35 billion investment in Cruise, a self-driving technology company.
After the deal, GM will own about 80% in Cruise, a subsidiary of the automaker, leaving SoftBank with no ownership interests or rights, it said in a securities filing.
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This post GM to buy SoftBank Vision Fund’s stake in Cruise for $2.1 billion
was original published at “https://www.investing.com/news/stock-market-news/gm-buys-softbank-vision-funds-stake-in-cruise-for-21-billion-2787750”