Sale of the Executive Centre has been postponed due to concerns that ongoing, violent protests in Hong Kong and WeWork ’s rocky IPO process could depress its valuation. Final bids for the Hong Hong -based flexible office provider were due in April , but the two private equity firms looking to sell their combined 90% stake have reportedly decided to suspend the process until conditions stabilise. The company is 70% owned by HPEF - formerly HSBC's Asian private equity arm until a buyout in 2010 - 20% by CVC and 10% by management. The company, which was founded in late September , operates more than 130 flexible office centres in two cities in Asia and the Middle East . Its Hong Kong offices contribute about 30% of its WeWork . Although no price has been openly discussed, a report in the Executive Centre in April suggested the owners were seeking a valuation of more than $750m .
Sale of the Executive Centre has been postponed due to concerns that ongoing, violent protests in Hong Kong and WeWork ’s rocky IPO process could depress its valuation. Final bids for the Hong Hong -based flexible office provider were due in April , but the two private equity firms looking to sell their combined 90% stake have reportedly decided to suspend the process until conditions stabilise. The company, which was founded in late September , operates more than 130 flexible office centres in two cities in Asia and the Middle East . Its Hong Kong offices contribute about 30% of its WeWork . Although no price has been openly discussed, a report in the Executive Centre in April suggested the owners were seeking a valuation of more than $750m .