SOFTBANK Ali, selling stock for the first time in 16 years: cash US $ 8 billion debt-Softbank, Softbank, Alibaba, MA-IT information
Alibaba group, announced from the SOFTBANK Group agreed to buy their holdings of 2 billion dollars ' worth of company stock, funds needed by the company's own cash. In addition, by company founders and executives of Alibaba partners agree, from the hands of the SOFTBANK Group Alibaba shares to buy another $ 400 million.
Meanwhile, Japan, SOFTBANK announced that it will sell 500 million dollar stake to a sovereign wealth Fund. SOFTBANK Group convert the newly established a statutory trust fund to issue $ 5 billion in convertible bonds, these bonds can be converted to the Alibaba Group's common stock in three years . In all after the completion of this transaction, SOFTBANK Group's stake will be reduced to 28%.
"In the Sun under the leadership of Justice in the past in more than 16 years, SOFTBANK is Alibaba attaches great importance to a long-term strategic partnership, and we look forward to continuing our close partnership," Alibaba Group Chairman Jack Ma said. "When SOFTBANK seeks to improve its earnings, the company believes, by buying back our own shares and invest in our own business, is the best way to use our funds will also bring practical benefits for our shareholders. ”
Alibaba group, the stake purchase, show management company strongly optimistic about the future. It is understood that the entire transaction completely under Alibaba's tie.
SOFTBANK President Masayoshi Son said: " turns out our investment of Ali was a stunning success over the past 16 years, we have established a close working partnership. During this time we never sell its stake in Alibaba. Alibaba also has great room for development in the future, SOFTBANK Group looks forward to continued to work closely with . "
SOFTBANK said in the announcement, the deal from the SOFTBANK Group's capital structure and reduce debt needs. The deal makes SOFTBANK is now part of the Alibaba stock to increase its liquidity.
Previously, according to data compiled by Bloomberg News showed that acquisitions United States influence of mobile operator Sprint Corp, SOFTBANK's current total debt up to 12.3 trillion yen (US $ 108.2 billion).
In 2000 and 2004, SOFTBANK operates at 20 million, $ 60 million stake in Alibaba. Ali in investment in more than 15 years, SOFTBANK has never sold shares of company stock.
Alibaba has become the most glorified SOFTBANK founder Masayoshi Son life investment. Alibaba today's market capitalization, Masayoshi Son profit nearly 1000 times.
But for Ali Baba, this is an opportunity for adjusting ownership structure according to its needs.
Check out Alibaba ownership structure changes past events, in 2005 after receiving Yahoo's $ 1 billion Fund, the company began combing with SOFTBANK's equity, to $ 360 million in cash all Taobao bought SOFTBANK's stake. Earlier, SOFTBANK shares held near 50% Taobao. After 2005 in Yahoo shares, SOFTBANK only 29.3% votes, far less than the Ma-led management team.
In May 2012, Ali once again adjust the ownership structure, based on agreements with Yahoo, Alibaba for us $ 7.6 billion to buy back Yahoo stake in 50% Ali.
The key point is that changes in the repo to make Alibaba Group's right to vote: after the deal, Yahoo, SOFTBANK's vote total below 50%, at this point, to vote based on the perspective of the right, Alibaba's control problems were resolved, MA and the absolute control of the management company was established .
But after Alibaba IPO, agreement according to Alibaba and Softbank, SOFTBANK's voting rights were further constraints, SOFTBANK has voting rights shall not exceed 30% above Ma and Tsai will be granted the right to vote.
At the Board level, SOFTBANK only has the right to nominate a member of the Board of Directors, but without Ma and Tsai agreed, it had no right to expel any of the directors nominated by the company. If SOFTBANK stake in Ali less than 15%, then it will lose the right to nominate any directors.
It can be said that Alibaba formation and various equity partnerships change are inextricably linked.
Partner rules according to Alibaba, Alibaba partners have the right to nominate the majority of the Board seats, SOFTBANK to nominate board members through the partnership agreement if Ali, Board members were nominated by the Government, the new nominee will be nominated by Alibaba partners. That is, through partnerships, Alibaba has formed "the partners decide to Board of Directors, the Board of Directors company" decision-making mechanisms.
软银16年来首次抛售阿里股票：变现80亿美元还债 - 软银,孙正义,阿里巴巴,
马云 - IT资讯
阿里巴巴集团宣布，同意从软银集团手中购买其持有的价值20亿美元的阿里巴巴股票，所需资金由阿里巴巴自有现金支付。此外，由阿里巴巴创始人和高管组成的阿里巴巴合伙人同意，从软银集团手中认购另外4亿美元的阿里巴巴股票。
与此同时，日本软银的公告称，还将向一家主权财富基金出售5亿美元阿里巴巴股份。软银集团将新成立一个法定可转换信托基金发行总额为50亿美元的可转换债券，这些债券可在三年内转换为阿里巴巴集团的普通股。在所有这次交易完成之后，软银集团持有的阿里巴巴股份将降至28%。
“在孙正义的领导下，在过去逾16年的时间里，软银一直是阿里巴巴高度重视的一个长期战略合作伙伴，我们期待继续保持我们紧密的合作伙伴关系，”阿里巴巴集团董事局主席马云说。“当软银在寻求改善它的财报时，阿里巴巴相信，通过购回我们自己的股票，再投资于我们自己的业务，是对我们的资金最好的利用方式，也将为我们的股东带来实际的利益。”
而阿里巴巴集团对这部分股份的购买，显示了管理层对公司未来的强烈看好。据了解，整个交易的过程完全在阿里巴巴的配合之下进行。
软银集团董事长孙正义也表示：“事实证明我们对于阿里的投资获得了惊人的成功，过去16年里，我们建立了紧密的合作伙伴关系。我们在此期间从未出售过阿里巴巴的股份。阿里巴巴未来还有巨大的发展空间，软银集团期待与之继续紧密合作”。
软银在公告中坦言，此次交易源于软银集团的资本结构和降低负债规模的需求。该交易将使软银套现部分所持阿里巴巴股票以增加其自身流动性。
此前据彭博社数据汇编显示，受收购美国移动运营商Sprint Corp的影响，软银当前总债务高达12.3万亿日元（1082亿美元）。
2000年和2004年，软银分别以2000万、6000万美元入股阿里巴巴。在投资阿里超过15年的时间中，软银还从未出售过一股阿里巴巴股票。
阿里巴巴也成为软银创始人孙正义一生最为荣耀的投资。以阿里巴巴今天的市值计算，孙正义获利近1000倍。
而对于阿里巴巴来说，这又是一个将股权结构按照自身需求进行调整的机会。
查阅阿里巴巴股权结构变迁历史可见，2005年在获得雅虎的10亿美元资金之后，阿里巴巴即开始梳理同软银的股权关系，以3.6亿美元现金收购了软银所持的全部淘宝股份。此前，软银持有近50%的淘宝股份。在雅虎2005年入股后，软银仅有29.3%的投票权，远低于马云为首的管理团队。
2012年5月，阿里再次调整股权结构，根据与雅虎签署的协议，阿里巴巴以76亿美元回购雅虎持有的50%阿里股份。
关键的一点在于，此次回购使阿里巴巴集团的投票权发生变化：交易完成后，雅虎、软银的投票权合计在50%以下，至此，以基础的投票权角度，阿里巴巴的控制权问题得到了解决，马云及管理层确立了对公司的绝对控制力。
而在阿里巴巴IPO之后，根据阿里巴巴同软银达成的协议，软银的投票权进一步被约束，软银投票权不得超过30%，超出的投票权将被授予马云和蔡崇信。
在董事会层面，软银仅有权提名一位董事会成员，但未经马云和蔡崇信的同意，它将无权开除任何一名由公司提名的董事。如果软银在阿里持股少于15%，那它将失去提名任何一位公司董事的权利。
可以说，阿里巴巴合伙人制度的逐渐形成与历次股权变迁密不可分。
根据阿里巴巴的合伙人规则，阿里巴巴合伙人有权提名董事会席位中的多数，软银提名的董事会成员要经过合伙人同意；如果阿里提名的董事会成员被否，那么新提名人仍将由阿里巴巴合伙人提名。也就是说，通过合伙人制度，阿里巴巴形成了“合伙人决定董事会、董事会决定公司”的决策机制。