India biz to have no impact from US WeWork Global’s bankruptcy warning

Coworking major WeWork India on Wednesday said its business will have no impact from the development in US-based WeWork Global, which has said “substantial doubt” exists about the company’s ability to continue as a going concern.

In WeWork India, Bengaluru-based real estate firm Embassy Group hold a 73 per cent stake, while WeWork Global has a 27 per cent shareholding. In June 2021, WeWork Global, which is a leading provider of flexible workspace, invested USD 100 million (about Rs 750 crore) in WeWork India.