5th Nov 2018 07:25
LONDON (Alliance News) - FTSE 250-listed IWG PLC's Chief Executive Officer Mark Dixon is looking at plans to split the office property company in two, Sky News reported on Saturday.
Under the proposals, IWG would split off its property estate and instead focus on growing a new "global franchising model", Sky said, adding it hasn't been confirmed whether the demerged property estate will become a separately listed company.
The discussions are currently at an exploration stage, according to Sky. However it reported that banking sources have said that an announcement could be made before the end of 2018.
https://news.sky.com/story/wework-rival-iwgs-founder-dixon-plots-22bn-break-up-11543434
In August, IWG terminated takeover talks with bidders Starwood Capital European Operations Ltd, Terra Firma Investments Ltd and TDR Capital LLP, saying none were capable of delivering an executable transaction at a recommendable price.
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