Activity 4, 2 Parcial

WeWork is reportedly seeking a $4 billion lifeline from SoftBank and JPMorgan



 Oct. 8, 2019, 05:27 AM

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WeWork is reportedly seeking a $4 billion lifeline from SoftBank and JPMorgan.


The shared workspace group is in talks with its largest investor for a $1 billion injection, which it hopes to parlay into a $3 billion debt deal with the bank, according to Reuters.


WeWork is hoping to secure the funds as early as next week, when it expects to outline planned job cuts and asset sales to employees, Reuters reported.


Read more of Business Insider's WeWork coverage here.


WeWork is seeking a $4 billion lifeline from SoftBank and JPMorgan, according to Reuters.

The shared workspace group is in talks with its largest investor for a $1 billion injection, which it hopes to parlay into a $3 billion debt deal with the bank, Reuters reported, citing people familiar with the discussions.

WeWork is hoping to secure the funds as early as next week, when it expects to outline planned job cuts and asset sales to employees following the collapse of its IPO last month, Reuters said. However, JPMorgan is reluctant to begin serious negotiations before WeWork strikes a new deal with SoftBank, one source told the news outlet.

SoftBank's money would finance WeWork's restructuring plans, Reuters reported. The Japanese conglomerate, which controls about 29% of WeWork and has invested or committed more than $10 billion already, has determined a fresh influx of cash is necessary to save its investment, one source told Reuters.

Before it coughs up the funds, however, SoftBank wants to tweak the $1.5 billion warrant deal it struck with WeWork in January based on the startup's private valuation of $47 billion at the time. It's eager to pay less per share, giving it a bigger stake in the business, the Financial Times reported last month.

WeWork scrapped its plans to go public last month after investors criticized its business model, mounting losses, complex structure, and controversial cofounder and CEO Adam Neumann. Days before its IPO, the startup was looking at a public valuation below $20 billion — less than half its last private valuation. The prospect of raising less than $3 billion, the amount needed to unlock $6 billion in bank financing, prompted WeWork to shelve its plans.

The backlash from investors has led WeWork to overhaul its corporate governance, rejig its share structure, and replace Neumann with two co-CEOs, Artie Minson and Sebastian Gunningham. The pair plan to lay off between 10% and 25% of the group's roughly 12,500 employees, Business Insider reported. They also intend to sell ancillary businesses that provide marketing, networking, and office—cleaning services, according to The Information.

Comentarios

  1. EDGAR DIAZ8 de octubre de 2019, 6:56

    Se espera que el acuerdo recaude hasta 4 mil millones de dólares a un valor de empresa de entre 15 mil y 20 mil mdd. Eso estaría muy lejos de la valoración de 47 mil millones de dólares que SoftBank le dio recientemente a WeWork. Una OPI que le de una valor al grupo de 15 mil mdd provocaría una amortización de 4 mil millones de dólares para SoftBank y una pérdida de 5 mil mdd para su fondo Vision Fund, según Bernstein. En cualquier valuación por debajo de 25 mil millones de dólares, es probable una depreciación de valor.
    Vision Fund, que tiene el respaldo de Arabia Saudita, ya lidia con la caída en el valor de las compañías que empezaron a cotizar como Uber y Slack. Esto significa que una recaudación de fondos por 108 mdd para un segundo Vision Fund podría fracasar.

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  2. Nayely zagala8 de octubre de 2019, 21:41

    Estaba prevista como una de las grandes salidas a Bolsa tecnológicas del año, junto a firmas como Uber, Slack o Lyft. No obstante, la empresa, dedicada a alquilar grandes zonas de oficinas, adecuarlos y realquilarlos como espacios de 'coworking' a plazos más cortos, tenía previsto iniciar esta semana una ronda de contactos con analistas e inversores. No obstante, la fría acogida del mercado puede propiciar un cambio de planes.La empresa ha detallado en el folleto que ha perdido 2,700 millones de dólares en los últimos tres años, necesitando inyecciones de liquidez de inversores para cubirir sus operaciones corrientes: 6,500 millones de dólares en cuatro años, según un informe de Sanford Bernstein recogido por Bloomberg.
    Además, la estructura corporativa se ha topado con grandes recelos. No sale a Bolsa WeWork sino WeCompany, sociedad que a su vez tiene participación en WeWork. La empresa tiene tres series distintas de acciones que permiten al fundador, Adam Neumann, mantener el control de la sociedad pese a tener menos acciones que Softbank. La empresa tiene, además, numerosas operaciones con Neumann, a quien ha comprado derechos millonarios de propiedad intelectual y le ha prestado dinero.

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  3. Jacqueline Trejo10 de octubre de 2019, 11:12

    WeWork busca una línea de vida de 4 mil millones de SofBank y UpMorgan.
    El grupo de espacio de trabajo compartió estás conversaciones con su mayor inversor para una inyección de $ 1 mil millones, que esperaban participar en un acuerdo de deuda de $ 3 mil millones con el banco, espera asegurar fondos, espera delinear los cortes de empleos y ventas de activos a los empleados.
    WeWork descartó sus planes de salir a bolsa el mes pasado. La reacción de los inversionistas ha llevado a WeWork a revisar su gobierno corporativo, reajustar su estructura de acciones. También tiene intención de vender negocios auxiliares que brinden servicios de mercado, redes y limpieza de oficina.
    Podemos analizar que es importante saber cómo levantar una empresa, verificar que es bueno, malo que se tiene que quitar y como resolver. La importancia de un economista puede ser la diferencia entre la ganancia y la pérdida.

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  4. Valerio Rojas Leonardo16 de octubre de 2019, 21:42

    WeWork está por colmar el vaso. Necesita nuevos fondos para el mes que viene a más tardar. El grupo estadunidense de oficinas flexibles, cuya fachada de tecnología se desgastó, perdió una línea de crédito de 6 mil millones de dólares al no darse la salida a bolsa. Su supervivencia depende de los bancos y de SoftBank. A cambio, el inversor japonés de tecnología puede tomar el control. Para todos los involucrados, excepto uno, el cofundador Adam Neumann, parece haber pocas esperanzas de un final feliz.

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