SoftBank Group Corp. has prepared a financing package that would give it control of WeWork and serve sideline a owner Adam Neumann in sell for relieving a shared-office startup’s appearing money crunch, according to people informed with a matter.
WeWork is racing to find a approach to seaside adult a financing after a New York primogenitor association We Co. pulled a skeleton for an initial open charity and Neumann quiescent underneath pressure.
One intensity resolution is a SoftBank
9984, -0.81%
package. Another possibility: The house has tapped JPMorgan Chase Co.
JPM, +1.69%
to demeanour during ways for a association to lift billions in debt, and a bank is in a center of meetings with investors about participating in a multibillion-dollar debt deal, people informed with a company’s skeleton said.
“WeWork has defended a vital Wall Street financial establishment to arrange a financing,” a association orator said. “Approximately 60 financing sources have sealed confidentiality agreements and are assembly with a company’s government and a bankers over a march of this past week and this entrance week.”
An stretched chronicle of this news appears on WSJ.com.
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