SoftBank Group Corp is planning to pump an extra $1 billion or more into WeWork ...
- SoftBank Group Corp is planning to pump an extra $1 billion or more into WeWork by renegotiating a warrant agreement struck before falling valuations delayed the U.S. office-sharing startup’s IPO, the Financial Times reported.
SoftBank and its Saudi-backed Vision Fund are WeWork’s biggest backers and have already funneled more than $10 billon into the U.S. company, including the promised $1.5 billion. WeWork declined to comment on the report. SoftBank did not immediately respond to a request for comment. WeWork appointed two insiders as co-CEOs and said Neumann will stay on the board as non-executive chairman.In the run-up to the planned IPO, investors questioned WeWork’s corporate governance standards, as well as the sustainability of its business model, which relies on a mix of long-term liabilities and short-term revenue.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kik, A $1 Billion App Plagued By Child Abuse, ClosesKik is closing as the Kin cryptocurrency founder gets ready for battle with the SEC. Those who saw Kik as a crime haven may well be relieved.
Read more »
Saudi Aramco seeks project finance loan of more than $1 billion: sourcesSaudi Aramco has asked banks to submit proposals for a project finance loan of m...
Read more »
Walmart expands $1 a day education program to deepen push in healthcareWalmart Inc is expanding an education program it began last year by offering hea...
Read more »
Kik, A $1 Billion App Plagued By Child Abuse, ClosesKik is closing as the Kin cryptocurrency founder gets ready for battle with the SEC. Those who saw Kik as a crime haven may well be relieved.
Read more »
German prosecutors fine Daimler almost $1 billion for breaking diesel rulesDaimler will pay a fine of 870 million euros ($957 million) for breaking diesel ...
Read more »