Adam Neumann, former CEO of WeWork, desires to purchase again the coworking firm for 500 million euros | EUROtoday

Adam Neumann, co-founder and former CEO of WeWork, the workplace and coworking area rental platform, which declared chapter final November, has submitted a conditional buy provide of between 500 and 600 million {dollars} (662 and 550 million euros) for the corporate. According to The Wall Street Journalthe businessman would have fashioned “a coalition of half a dozen financial partners” to current a possible provide two weeks in the past.

Likewise, educated sources cited by the British newspaper identified that these monetary companions don’t embody the Third Point fund or the funding agency Baupost Group, which had been advised as potential allies of Neumann prior to now to regain management of WeWork, whose administration he deserted. in 2019, after it misplaced the belief of Softbank, its most important investor, and after a failed IPO that by no means befell. At that point his valuation reached near 50,000 million {dollars}. Neumann's eccentricity in his management, added to the outbreak of the pandemic in 2020, gave the crowning glory to an organization targeted on renting workplace area. coworking or shared between completely different employees.

In a response to Bloomberg, WeWork has assured that it stays targeted on rising from chapter safety of Chapter 11 within the second quarter as a “financially sound and profitable company.” “WeWork is an extraordinary company and it is not surprising that we receive interest from third parties on a regular basis,” provides the corporate, which was as soon as valued at round $47 billion (€43.41 billion).

In November 2023, the workplace rental platform, based in 2010 by Adam Neumann and Miguel McKelvey, declared suspension of funds when requesting safety from Chapter 11 of the US Bankruptcy Code with a debt of 18,656 million {dollars} ( 17,231 million euros) and an asset of 15,063 million {dollars} (13,912 million euros).