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SoftBank to buy Fortress Investment for $3.3 billion

Japan's SoftBank Group Corp on Wednesday said it has agreed to buy Fortress Investment Group LLC for about $3.3 billion, looking to add investment expertise as it prepares to launch the world's largest private equity fund. The all-cash deal is SoftBank's first major cash injection in an investment fund and represents another unpredictable gambit for a group that has to date focused on telecoms and technology. It comes after founder Masayashi Son made the surprise announcement in October that SoftBank is teaming up with Saudi Arabia to set up a $100.

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