LONDON - SoftBank Group Corp is planning to invest an additional US$1 billion or more in WeWork, altering a warrant agreement struck before WeWork postponed its IPO plans, the Financial Times reported, citing people briefed on the matter.
A new deal would reduce the price per share at which SoftBank acquires WeWork stock, giving it a larger stake in the unprofitable property group, FT said on Wednesday. The investment could unlock more financing options for WeWork, which is in talks for a US$3 billion to US$4 billion loan from a consortium of banks, FT added.