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IWG Sells Japanese Arm For £320 Million

Aayat AlibyAayat Ali
April 15, 2019
in News
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Serviced-office operator IWG has announced it will sell its Japanese arm for £320 million as it becomes known as a franchisor rather than a landlord.

First, the company will sell 130 coworking offices to property firm TKP Corporation, who contributed  £94.4 million to IWG’s revenues last year. This deal will allow TKP to use IWG’s brand names, such as Regus and Spaces.

The company hopes to expand its partnership model that allows landlords to use its brands for a fee.

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Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

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