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SoftBank to 'double down' on WeWork, take 80 percent stake


Added 10-23-19 07:04:02am EST - “The deal values WeWork at about $8 billion, well below the $47 billion valuation at which SoftBank last invested.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “SoftBank to 'double down' on WeWork, take 80 percent stake”. Below is an excerpt from the article.

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FOX Business’ Charlie Gasparino discusses WeWork's former CEO Adam Neumann leaving his role and what financial benefits he might receive.

The office-sharing company announced Tuesday evening that the Japanese tech giant SoftBank will provide $5 billion in financing and a tender offer of up to $3 billion for existing shareholders. SoftBank will accelerate an existing $1.5 billion funding commitment.

The deal will give the Japanese conglomerate an 80 percent stake in WeWork when it closes, valuing the company at about $8 billion.

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