LONDON, March 8 (Reuters) - Japan’s SoftBank is to place a roughly $8 billion stake in ARM, the British chip designer it bought last year, into an investment fund it has created with Saudi Arabia, the Financial Times reported on Wednesday.
SoftBank, run by founder Masayoshi Son, bought ARM, Britain’s most valuable technology company, for $32 billion last year.
The FT cited two people close to the situation as saying SoftBank would place 25 percent of ARM into the fund. It said the fund was also seeking to secure the backing of Mubadala, the Abu Dhabi state-backed investment group, which wanted the fund to own a portion of ARM.
The FT said the British government, which backed the initial takeover, had been notified of the transaction and did not raise any concerns.
Reporting by Kate Holton; editing by Guy Faulconbridge