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IWG sells all 122 Japan locations as franchise; Shares rise 23%

Aayat AlibyAayat Ali
April 15, 2019
in News
Reading Time: 1 min read
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IWG has marked its first franchise sale as it sold its Japanese arm for £320 million to real estate company TKP Corporation.

The deal will provide TKP all of Regus Japan Holdings, including 130 coworking spaces. The company’s share price rose 23% after the deal was announced.

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Now, TKP has the rights to use the Regus, Spaces, and Open Office brands and IWG will continue supporting the Japanese-based real estate firm through sales, marketing, operations, and technology for a share of its revenues.

“The transaction realises an attractive valuation for IWG’s shareholders and re-affirms our strategy of capital efficient growth in IWG’s global network with an increased emphasis on partnerships,” said Mark Dixon, chief executive of IWG, who will join TKP’s board as a non-executive director. “We look forward to working with TKP for many years to continue our network development in Japan.”

Tags: daily_digest
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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