Embassy Group , which owns a majority stake in WeWork India , said the deferment of the We Company ’s IPO will have no impact on the Indian JV, and it remains upbeat about the company’s prospects. The Co-CEOs Artie Minson , which is wholly owned and funded by Embassy , continues to focus on signing further agreements with landlord partners, a spokesperson for the real estate developer said. Earlier this year , the New York -based co-workspace operator offered to buy a 70% stake in the We Company from Embassy , in a deal valuing the company at $ over 50 per cent . WeWork India operates 400 locations across the country.
Embassy Group, which owns a majority stake in WeWork India, said the deferment of the We Company’s IPO will have no impact on the Indian JV, and it remains upbeat about the company’s prospects. The JV, which is wholly owned and funded by Embassy, continues to focus on signing further agreements with landlord partners, a spokesperson for the real estate developer said. Earlier this year, the New York-based co-workspace operator offered to buy a 70% stake in WeWork India from Embassy, in a deal valuing the company at $2.75bn. WeWork India operates 25 locations across the country.