The American coworking network WeWork has agreed to sell its business in Russia to the investment company O1 Properties. The deal has not yet been closed, but is at a high level of preparation.
The agreement will include four plants in Moscow with 3,000 jobs and a total area of 18,000 square meters. m, consultants working with the parties told Vedomosti.
It was difficult for the publication’s interlocutors to specify the amount of the transaction. If we consider the model of purchasing leases over three years, then it could amount to about 1.6 billion rubles, estimated Remain CEO Dmitry Klapsha. According to him, it can be adjusted.
- WeWork was founded by Adam Newman in 2010; The company develops a network of coworking spaces around the world. In 2019, Newman stepped down as head of the company amid complaints from investors.
- Doubts about the viability of the business model led to a drop in WeWork’s valuation from $47 billion to $20-30 billion, and the IPO was also postponed. The company eventually went public in 2021, without going through an initial public offering (through a merger with SPAC company BowX Acquisition).
- In November 2023, WeWork announced that it had filed for bankruptcy. WeWork has $19 billion in debt, according to Bloomberg. In its statement, the company said it had $15 billion in assets as of June 30.
Author:
Karina Pardaeva
Source: RB
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