Yahoo Softbank Joint Venture Agreement

The companies are working to reach a final agreement by next month in a deal in which SoftBank Corp and Naver will form an equally split joint venture partnership, which will control Z Holdings, which in turn will operate Yahoo Japan and Line. The company wants to compete with US internet giants such as Google, Apple, Facebook and Amazon, as well as Chinese computer titans such as Baidu, Alibaba, Tencent and Huawei. According to the announcement, SoftBank Corp., the parent company of Z Holdings and a mobile phone unit of SoftBank Group Corp., as well as Line`s parent company, Naver Corp. of South Korea, acquire all of Line`s shares for an estimated $5,200 per share in a joint takeover bid. As part of the agreement, Naver and SoftBank will submit an offer to acquire all of LINE`s shares, followed by LINE becoming a joint venture in which Naver and SoftBank will share the voting rights 50-50. In addition, the joint venture will be the majority shareholder of Z Holdings, which in turn will control the Messenger LINE platform, the Yahoo portal! Japan, Yahoo trading platforms! Shopping and JoJo, as well as financial services provider Japan Net Bank. Naver owns 73% of Line, Softbank 45% in Der Z Holdings. Line, the most widely used messaging app in Japan, has more than 80 million users. The agreement is expected to be concluded by October 2020.

The online shares are then withdrawn from the stock exchange. Following the acquisition, SoftBank and Naver Line will become a 50-50 joint venture with Z Holdings under their roof. Yahoo Japan and Line`s existing features will be housed under Z Holdings The deal will become the largest Internet platform in Japan once the joint venture is settled. With more than 100 million users, the platform includes search, messenger, digital payments and e-commerce. SoftBank Corp. and Mapbox, the rival card data company of Google and Here, have announced that they have created a joint venture called Mapbox Japan. The two companies have already signed a fundamental agreement on integration on 18 November. «We will create synergies in each industry, while fostering growth in artificial intelligence (AI), commerce, fintech, advertising, online-to-off (O2O) and other industries, to successfully compete in Japan and global markets,» the two parties say. He added that the 50-50 joint venture of Der Naver and Softbank in Korea and Japan «did not occur when the two countries had good relations,» and also stated that he believed there would be similar cases in the future. Softbank has signed an agreement with South Korea`s Naver Corp, owner of the messaging app Line, to merge it with Yahoo Japan. The partnership becomes the largest shareholder of Z Holdings as part of the agreement. Z Holdings is a parent company of Yahoo Japan and a subsidiary of Softbank.

Yahoo Japan and Line become subsidiaries under the new company. With regard to the creation of the new 50-50 joint venture, the two IT companies have already signed a basic agreement. Learn more about FindLaw`s newsletter, including our terms of use and privacy policies. v) If the non-selling party refuses to acquire the shares of Yahoo! Japan, the party that does not sell has the right to participate in the third party in proportion to the sale of those shares by the seller. Foreign deposits are familiar with Korean securities …