TOKYO: WeWork announced on Wednesday it has accepted a rescue package from SoftBank Group Corp., its largest investor, that will give the Japanese conglomerate an 80% stake in the company.
The deal marks the end of an era for the troubled co-working giant, which raised money at a $47 billion valuation in January, pulled out of a botched initial public offering attempt last month and is now valued at less than $8 billion in the bailout.
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