NewsBreak: SoftBank to Take Control of WeWork, Inject up to $5B - Reports
Investing.com
Published Oct 21, 2019 04:20PM ET
Investing.com - SoftBank will take control of WeWork in a deal that would cut the value of the work space company to about $8 billion and provide a much-needed cash injection, according to published reports citing people familiar with the matter.
- Softbank plans to spend between $4 billion and $5 billion on new equity and existing shares to take a 70% controlling stake in WeWork. The deal would value WeWork between $7.5 billion to $8 billion and could be announced as soon as Tuesday, according to the reports.
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Written By: Investing.com
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