SoftBank is reportedly in very advanced talks with WeWork over a rescue deal that would value the company at between $7.5bn and $8bn on a pre-funding bases and cede control to the Japanese company. The two companies have been working together for some time now, but it was not until last week when they were able to finalise their deal. SoftBank COO Marcelo Claure would assume a role as part of the management team, likely as chairman.
SoftBank is reportedly in very advanced talks with WeWork over a rescue deal that would value the company at between $7.5bn and $8bn on a pre-funding bases and cede control to the Japanese company. The deal, which is worth up to $9.5bn, comprises a $5bn syndicated loan, a tender for up to $3bn of equity from existing shareholders and an acceleration of a $1.5bn equity investment committed to in January, giving SoftBank control of 70% or more of WeWork. SoftBank COO Marcelo Claure would assume a role as part of the management team, likely as chairman.