The ex-boss of Uber Kalanick sells nearly a third of its stake


© Reuters. The EX-BOSS Of UBER KALANICK SELLS NEARLY a THIRD OF ITS stake

SAN FRANCISCO (Reuters) – The co-founder and former ceo of Uber Technologies, Travis Kalanick, sells nearly a third of its 10% interest in the share capital of specialist transport vehicles with driver (VTC), for approximately $ 1.4 billion (1.16 billion euros), says a source close to the folder.

Travis Kalanick resigned in June from his post of director general of the group, under the pressure of investors who blamed its management methods.

This assignment falls within the framework of an agreement signed with a consortium led by japan’s SoftBank Group, which has taken a share of 17.5% in Uber, mainly through the redemption of interests of investors of the first hour, and employees. The agreement enhances the transport group 48 billion (40 billion euros).

Uber has made it known last week that this would be fastened at the beginning of the year 2018.

He has agreed to a discount of 30% on its valuation the most recent one, which was $ 68 billion, to the input of a shareholder reference, which will help the new ceo Dara Khosrowshahi in his efforts to reform the governance of the american group after months of turmoil and scandal that have tarnished its image.

Travis Kalanick had offered to sell half of its stake, but SoftBank has set limits to its purchases of securities, it will not sell as 29%, said the same source.

Other investors have not been able to divest itself of as many titles as they wanted to cope with the influx of titles to assign.

The former director-general holds 10% of Uber, which means that he yields to 2.9% of capital, which is expected to represent approximately $ 1.4 billion, adds the same source.

A spokesman for Travis Kalanick declined to comment. SoftBank and Uber were not immediately available.

This assignment would be the co-founder of Uber is a billionaire for the first time, not just on paper. He had never sold the title up to this company he has led for nearly ten years, precise-t-on.

The agreement with SoftBank represents for the shareholders and employees their last chance to sell their shares with the agreement of the company prior to the ipo Uber-long awaited and planned for the year 2019.

(with Philip George in Bangalore, Juliette Rouillon for French service, edited by Jean-Stéphane Brosse)

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