SoftBank Grabs $1.3B Brightstar Stake In Week's 2nd Deal

Law360, New York (October 18, 2013, 1:59 PM ET) -- Japan's SoftBank Corp. on Friday said it would pay $1.26 billion for a majority stake in private equity-backed cellphone distributor Brightstar Corp. in its second major deal of the week, extending a push to fashion itself a global powerhouse.

Under the deal's terms, SoftBank will take a 57 percent stake in Florida-based Brightstar. Sellers include New York investment firm Lindsay Goldberg LLC and others.

The remaining ownership interest will stick with Brightstar founder Marcelo Claure — who is also the company's chairman, president and CEO —...
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