(Bloomberg) -- IWG Plc, the serviced-office company that operates the Regus brand, has hired an adviser to sell its Spaces unit in an attempt to lure a buyer that wants to take on WeWork Cos., peop...
IWG has reportedly hired Eastdil Secured to sell its Spaces brand, in a bid to find a buyer that wants to take on WeWork, according to Bloomberg. The move follows a series of unsuccessful bids for IWG in November, which prompted the company to investigate whether it’s more modern co-working brand would achieve a higher valuation as a stand-alone business. In 2018, CEO Mark Dixon said the company would review what to do with Spaces if the evaluation concluded that Spaces was worth more as a separate business. Both IWG and Eastdil declined to comment on the news.