WeWork has sold a $200 million stake in its China business, a move to reduce its long-term exposure to the office market. The buyer was TrustBridge Partners, an investment firm that previously held a minority stake in WeWork China. With its new majority position, TrustBridge appointed its operating partner, Michael Jiang, as acting CEO of the flexible-office provider’s Chinese wing. “WeWork China has built a business that has cemented WeWork’s position across the region as
source https://therealdeal.com/2020/09/24/wework-sells-majority-stake-in-china-division/
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