SoftBank Group Corp. has agreed to invest $200 million more to bail out Katerra, a construction startup that ran into financial problems as it tried to shake up the building industry.

Katerra’s shareholders on Wednesday voted to approve the new investment on top of the roughly $2 billion SoftBank
9984,
+0.04%

has already invested. Under the plan, the Japanese investment firm’s stake in Katerra will grow to give it a majority stake, while other investors will see their stakes severely diluted, according to people familiar with the matter.

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