Flexible office space provider Regus – now part of IWG – has said it is in talks with Canadian companies Brookfield Asset Management and Onex Corporation over a potential £2.5bn ($3.4bn) cash buyout of the company. The deal would see the company split into two separate companies, one to be run by its current management team while another group will take on some of the company’s assets. They have yet to make a formal offer IWG had a turbulent 2017 in the face of competition from WeWork and issued a profit warning in October. IWG founder Mark Dixon, who owns 25% of the business, could make as much as £600m from the sale. The Canadian companies have until 20 January to offer their proposal.
Flexible office space provider Regus – now part of IWG – has said it is in talks with Canadian companies Brookfield Asset Management and Onex Corporation over a potential £2.5bn ($3.4bn) cash buyout of the company. The deal would see the company split into two separate companies, one to be run by its current management team while another group will take on some of the company’s assets. IWG had a turbulent 2017 in the face of competition from WeWork and issued a profit warning in October. IWG founder Mark Dixon, who owns 25% of the business, could make as much as £600m from the sale. The Canadian companies have until 20 January to offer their proposal.