WeWork considering purchasing a 70% stake in WeWork India

The potential cash-and-stock deal could close as early as August.

According to a report from Bloomberg citing sources familiar with the matter at hand, shared office space manager WeWork Cos is eyeing a deal which sees it take a majority stake in in its affiliate WeWork India.

If it were to decide to do so, it would be before of its decision to go public.

According to the report, WeWork is in talks to purchase nearly 70% stake in WeWork India at a valuation of about $2.75 billion.

The potential cash-and-stock deal, $1.9 billion at this terms, could close as early as August, said sources while adding the terms of the deal have not yet been finalized.

WeWork India is a franchisee controlled by real estate tycoon Jitu Virwani and his son Karan Virwani.

They control Bengaluru-based developer Embassy Group, while Karan Virwani is the CEO of WeWork India.

WeWork owner The We Company filed for an initial public offering in the United States in April.

WeWork did not immediately respond to a request for comment on the matter.



Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

Tags: , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: