Oct 31 2019, 2:42 AMOct 31 2019, 9:11 AMOctober 31 2019, 2:42 AMOctober 31 2019, 9:11 AM WeWork confirmed it has received $ 1.5bn from SoftBank . The payment triggered a number of governance changes, including Marcelo Claure officially taking over from co-founder Adam Neumann as chairman of the company and the assignment of five seats on the board to SoftBank . WeWork also said it had appointed Jeff Sine , lawyer and co-founder of M&A investment bank Raine Group as a new independent director. Sine is close to SoftBank ’s Masayoshi Son and advised on several deals including mergers negotiation between SoftBank and Sprint . SoftBank is understood to be seeking approval of its WeWork bailout package from Sprint (CFIUS) in the US , according to Committee on Foreign Investment citing a person familiar with the plans.
WeWork confirmed it has received $ 1.5bn from SoftBank . The payment triggered a number of governance changes, including Marcelo Claure officially taking over from co-founder Adam Neumann as chairman of the company and the assignment of five seats on the board to SoftBank . WeWork also said it had appointed Jeff Sine , lawyer and co-founder of M&A investment bank Raine Group as a new independent director. Sine is close to SoftBank ’s Masayoshi Son and advised on several deals including mergers negotiation between SoftBank and Sprint . SoftBank is understood to be seeking approval of its WeWork bailout package from Sprint (CFIUS) in the US , according to Committee on Foreign Investment citing a person familiar with the plans.