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WeWork

WeWork may acquire 70% stake in Indian unit for $1.9 Bn

WeWork

Co-working space provider WeWork may take around 70% stake in its Indian unit to take control of the business in the country. The IPO-bound company is reportedly planning to put in $.1.9 billion at a valuation of $2.75 billion.

The talks initiated in January when media reports suggested that it would buy a majority stake. WeWork India is a brand franchisee controlled by Buildcon LLP, owned by the father-son duo – Jitu Virwani and Karan Virwani. Officially, WeWork has been renamed as The We Company. (Source)

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