WeWork Global in talks to sell entire 27% stake in WeWork India

Published on 4/23/2024, 8:08:59 AM

Key points

Bengaluru-based real estate firm Embassy Group, which holds the remaining 73 per cent stake in WeWork India, might also dilute some shareholdings to raise funds, they added.
WeWork Global in talks to sell entire 27% stake in WeWork India Co-working firm WeWork Global, which has filed for bankruptcy in the US, is in talks with potential investors to sell its entire 27 per cent stake in WeWork India to monetise its investments, sources said.
Bengaluru-based real estate firm Embassy Group, which holds the remaining 73 per cent stake in WeWork India, might also dilute some shareholdings to raise funds, they added.
WeWork India, which started operations in 2017, has over 8 million square feet of assets signed across 54 locations in New Delhi, Bengaluru, Mumbai, Gurugram, Noida, Pune, and Hyderabad.
WeWork India had posted a turnover of Rs 1,400 crore during the 2022-23 fiscal year.

Quick context: Bengaluru-based real estate firm Embassy Group, which holds the remaining 73 per cent stake in WeWork India, might also dilute some shareholdings to raise funds, they added.

Published Apr 23, 2024.

📌 Source: Moneycontrol

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