Connect with us

Business

WeWork Global sells 2.5% stake in WeWork India Management for Rs 244 crore

Published

on

WeWork Global sells 2.5% stake in WeWork India Management for Rs 244 crore
WeWork Global on Friday divested a 2.5 per cent stake in flexible workspace operator WeWork India Management for Rs 244 crore through open market transactions.

According to the block deal data on the BSE, WeWork Global through its affiliate, 1 Ariel Way Tenant Ltd, offloaded 35 lakh equity shares in five tranches, representing a 2.52 per cent stake in WeWork India Management.

The shares were disposed at an average price of Rs 697.55 apiece, taking the combined transaction to Rs 244.14 crore.

After the latest transaction, 1 Ariel Way Tenant Ltd’s holding in WeWork India Management declined to 12.3 per cent from 14.82 per cent.

Advertisement

Despite the stake sale, WeWork Global through its arm will remain the largest public shareholder in the company.


Meanwhile, Motilal Oswal Asset Management Company Ltd PMS, Motilal Oswal Mutual Fund (MF), ICICI Prudential MF, HDFC Standard Life Insurance Company Ltd, and Citigroup Global Markets Mauritius bought an equal number of shares at the same price.
Shares of WeWork India Management fell 1.57 per cent to close at Rs 707.80 apiece on the BSE.In July, WeWork India reported a consolidated net loss of Rs 4.30 crore for the first quarter of this fiscal year due to higher expenses.

The company had posted a net loss of Rs 14.10 crore in the year-ago period.

Its total income rose to Rs 700.74 crore during the April-June quarter of this fiscal year from Rs 545.71 crore in the corresponding period of the preceding year.

In 2017, WeWork India began as a joint venture between WeWork Global (US-based WeWork Inc) and Embassy Group. After WeWork Inc filed for Chapter 11 bankruptcy in the US, it moved to sell off its India stake entirely.

Advertisement

WeWork India is majority-owned and promoted by Embassy Group, and is the exclusive licensee of the WeWork brand in the country.

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

Voters across Latin America push back against socialism

Published

on

Voters across Latin America push back against socialism

Latin Americans have had it with socialism.

Over the past decade, more than half of Latin America’s nations have voted socialists out. From large countries like Argentina to tiny ones like El Salvador, socialists have been replaced with conservative leaders who’ve made significant progress turning their economies around.

Advertisement

That list could grow as Cuba and Nicaragua are on the cusp of collapse after their oil lifelines from Venezuela were cut following the arrest of Nicolás Maduro.

Argentine President Javier Milei.

Argentine President Javier Milei said in 2024 that, “We’re here to tell you that collectivist experiments are never the solution to the problems that afflict the citizens of the world. Rather, they are the root cause.” (Angelia Weiss/AFP via Getty Images)

NOW AMERICA REACHED A POLITICAL TIPPING POINT FOR SOCIALISM

The real incentive for dumping socialism is voter recognition that it just hasn’t worked. What is working are policies based on market solutions.

In Argentina, monthly inflation has tumbled from 25% to just 2%. Massive cuts in government have led to fiscal surpluses, and Moody’s upgraded their investment outlook to positive.

Advertisement

DAVID ASMAN ON COVID-19 TIPPING OFF RISE IN SOCIALISM: ‘PERFECT STORM’

“We’re here to tell you that collectivist experiments are never the solution to the problems that afflict the citizens of the world. Rather, they are the root cause,” Argentine President Javier Milei said in a 2024 speech at the World Economic Forum in Davos, Switzerland.

Argentinian President Javier Milei

In Argentina, monthly inflation has tumbled from 25% to just 2%. (Fabrice Coffrini/AFP via Getty Images)

Following the ouster of a socialist government in Ecuador, economic conditions there improved, with the GDP rebounding 3.7% in 2025 and the nation returned to international bond markets this year.

LATIN AMERICA’S SOCIALIST EXPERIMENTS LEAVE DEVASTATING TRAIL OF ECONOMIC COLLAPSE AND POVERTY

Advertisement

In Costa Rica, voters’ rejection of the ruling leftist party coincided with an estimated 20% relative decline in poverty from 2021 to 2024.

And those are just a few examples of the progress being made. Latin America has had many course changes over the years, and all this could turn around again. But probably not while memories of many socialist failures are so fresh and painful.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Latin America’s growing rejection of socialism also coincided with Secretary of State Marco Rubio’s cancellation of 83% of USAID programs, which he claims were doing more harm than good.

Advertisement
Marco Rubio talks to reporters

Secretary of State Marco Rubio announced the cancellation of 83% of USAID programs in March 2025. (Bill Clark/CQ-Roll Call, Inc via Getty Images)

Continue Reading

Business

Lument Finance Trust, Inc. (LFT) Q2 2026 Earnings Call Transcript

Published

on

OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript