Trustbridge Partners has acquired a majority stake in WeWork China, a SoftBank-backed company that was at one point valued at $5bn.
WeWork China, the local offshoot of US-based co-working space provider WeWork backed by telecommunications conglomerate SoftBank, was acquired for $200m by growth equity firm Trustbridge Partners yesterday.
The company’s official announcement referred to the deal as a “follow-on investment”, however, TechCrunch noted that the transaction would give Trustbridge a majority stake, while WeWork itself would retain a minority shareholding.
It is unclear whether WeWork China’s other shareholders – SoftBank and the Vision Fund, Hony Capital and Temasek – have sold…
