Japan's SoftBank to take control of WeWork: sources
- 5 years ago
Japan's SoftBank Group will reportedly take over embattled work space company WeWork.
According to Reuters, citing sources close to the matter, WeWork's board has accepted a takeover plan proposed by SoftBank, handing control over to the Japanese firm led by Japanese billionaire Masayoshi Son, also known as Son Jung-eui.
The deal will value WeWork between 7-point-5 billion and 8 billion U.S. dollars on a pre-funding basis and could be officially announced as soon as Tuesday, U.S. time.
If the deal goes through, Softbank would have a controlling stake of 70 percent or more in WeWork.
According to Reuters, citing sources close to the matter, WeWork's board has accepted a takeover plan proposed by SoftBank, handing control over to the Japanese firm led by Japanese billionaire Masayoshi Son, also known as Son Jung-eui.
The deal will value WeWork between 7-point-5 billion and 8 billion U.S. dollars on a pre-funding basis and could be officially announced as soon as Tuesday, U.S. time.
If the deal goes through, Softbank would have a controlling stake of 70 percent or more in WeWork.