Your First Startup23 Apr, 2024Business
WeWork India, a leading coworking company, is contemplating selling a 27% stake held by the US-based parent company's founder Adam Neumann in its Indian arm. Enam Group's family office as well as Mithun Sacheti and A91 Partners have started preparing to acquire the stake held by WeWork for INR 1,200 crore, as per the Economic Times report. According to sources, the stake offloading process involves selling existing shares. However, the scope remains for a primary component. Embassy Group, which owns a 73% stake in WeWork India, will oversee the share transfer process. However, the company is looking for clearance from the Competition Commission of India (CCI).
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