Thursday, July 27, 2017

SoftBank, WeWork, Hony Capital Form $500 Million JV for China Expansion

Is it just me or does every other deal announcement seem to have SoftBank's name attached?
It's reminiscent of China's HNA after 2015 when they reported something like $50 billion in various cross-border deals.
But, be that as it may, here's The Real Deal, July 27:

WeWork, Hony Capital and SoftBank form $500M JV to focus on China expansion
Partners are already backers in the $20B co-working giant
WeWork investors Hony Capital and SoftBank have created a $500 million joint venture on the side with the co-working company to help expand its footprint in China.

The Chinese private equity firm and the Japanese telecommunications company will own minority stakes in the investment vehicle, WeWork China, which the startup will manage, Bloomberg News reported.

WeWork has an equity stake in the new company, but the exact breakdown of investments was not known....MORE