SoftBank to exit SBG Cleantech

Japan’s SoftBank Group is looking to sell its entire stake in Indian green energy firm SBG Cleantech, an 80:20 joint venture between SoftBank and Bharti Enterprises. For this, it is in separate talks with the Canada Pension Plan Investment Board (CPPIB), Mubadala Investment Company and Brookfield Asset Management, Inc. Earlier, it was reported that Brookfield may buy the stake for about $600 million. SBG Cleantech is also looking to raise around $500 million (Rs 37.35 billion) through the sale of dollar bonds.