Corporate Law News

SoftBank Said to Plan $5 Billion Rescue Financing for WeWork (2)

Oct. 16, 2019, 5:15 PM

SoftBank Group Corp. is in discussions to provide WeWork with roughly $5 billion of rescue financing in an effort to salvage one of the Japanese conglomerate’s biggest investments.

The funds will come directly from SoftBank, rather than its Vision Fund, according to a person familiar with the matter who asked not to be named because the talks are private. SoftBank, which already owns about one-third of WeWork, would not amass a majority of voting rights, though its stake would increase, the person said. Part of the package may include non-voting preferred stock.

News of the financing talks sent WeWork’s bonds...

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