WeWork Said to Consider $1.9-Billion Offer for 70 Percent Indian Affiliate Stake

WeWork is in talks to buy around 70 percent of WeWork India at a valuation of about $2.75 billion, Bloomberg reported.

Advertisement
By Reuters | Updated: 14 June 2019 14:19 IST

Shared office space manager WeWork is exploring a deal to take majority control of its affiliate WeWork India ahead of the New York-based company's plans to go public, Bloomberg reported on Thursday, citing people familiar with the matter.

WeWork is in talks to buy around 70 percent of WeWork India at a valuation of about $2.75 billion, Bloomberg reported.

The cash-and-stock deal, $1.9 billion at this terms, could close as early as August, Bloomberg reported, adding the terms of the deal were not yet finalized.

Advertisement

WeWork India is a franchisee controlled by real estate tycoon Jitu Virwani and his son Karan Virwani. They control Bengaluru-based developer Embassy Group, while Karan Virwani is the CEO of WeWork India.

WeWork owner The We Company filed for an initial public offering in the United States in April.

WeWork did not immediately respond to a request for comment on the matter.

Advertisement

© Thomson Reuters 2019

 

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: WeWork
Advertisement

Related Stories

Popular Mobile Brands
  1. This Is When Apple Can Announce Its October Event
  2. iQOO Neo 10 Review: Gaming-Grade Hardware for Everyone
  3. Mars and Jupiter Probes on Watch as Interstellar 3I/ATLAS Nears Sun
  4. Samsung to Launch Special Edition of Its Galaxy Z Fold 7 in China
  1. JWST Reveals Stunning New Details About M87’s Supermassive Black Hole Jet
  2. Mars and Jupiter Probes Set to Monitor Interstellar Comet 3I/ATLAS During Its Sun Approach This Month
  3. M5 iPad Pro, AirTag 2 Launch Countdown: This Is When Apple Can Announce October Event
  4. WhatsApp for Android Said to Be Testing a Feature That Lets Users Reserve Their Usernames
  5. Samsung Galaxy A07, Galaxy F07, and Galaxy M07 4G Launched in India: Price, Specifications
  6. Lava Bold N1 Lite With 5,000mAh Battery Listed on Amazon Ahead of Launch: Price in India, Specifications
  7. Samsung Galaxy Z Fold 7 Special Edition China Launch Date Announced: Expected Features
  8. Google Said to Be Testing ‘More Efficient’ MediaTek Modem for Pixel 11 Series
  9. Call of Duty: Black Ops 7 Beta Early Access Goes Live as Players Report Cheating
  10. Department of Consumer Affairs to Probe E-Commerce Platforms Over Hidden Cash-on-Delivery Charges
Gadgets 360 is available in
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2025. All rights reserved.