SoftBank Group Corp is attempting to become the majority owner of WeWork without assuming the onerous lease obligations of the U.S. office-space sharing firm, according to people familiar with the matter. SoftBank is offering a $5 billion financing lifeline that The We Company, the parent of New York-based WeWork, is assessing against a proposal by JPMorgan Chase & Co for a debt package of similar size from banks and institutional investors. WeWork could run out of cash as early as next month without new financing, sources have said, after the company pulled plans in September for …read more
Source:: Yahoo Finance
