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Adam Neumann's new real estate company, Flow Global, has sought to buy WeWork out of bankruptcy, recently offering over $500 million.
Post the acquisition, the Bengaluru-based property developer will own 100% of WeWork India. Of the total, Embassy will sell 40% stake to Enam Group, A91 Partners, CaratLane founder Mithun Sacheti, and others for ₹1,200 crore, said the people cited above.
TECH NEWS : WeWork Inc. plans Indian market exit, sells 27% stake. Embassy Group's joint venture ownership reduces. Enam group, A91 Partners, Mithun Sacheti to ac
Bengaluru-based real estate firm Embassy Group, which holds the remaining 73 per cent stake in WeWork India, might also dilute some shareholdings to raise funds, they added.