WeWork gets CCI approval to exit India arm

Set up in 2017 as a JV between the Embassy Group and the American co-working company, WeWork India will see a change in its ownership structure.

The Competition Commission of India, late on Tuesday, approved WeWork Inc’s proposal to divest its entire 27.5% stake in its India unit. 

This deal involves a two-step process through which the American co-working company and WeWork India’s promoter, Embassy Group, will collectively sell about 40% stake in the local arm. The deal marks WeWork Inc’s exit from India. 

WeWork India was set up in 2017 as a joint venture between the Embassy Group and the co-working company’s global arm. Currently, the Embassy Group holds a majority stake of 72.5%, while 1 Ariel Way Limited—a subsidiary of WeWork Inc—owns the remaining …

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Ujjaini Dutta

Ujjaini writes for Yesterday at The Morning Context. She joins us from MEA WorldWide, where she worked as a sub-editor, and has previously worked as an editorial intern at The Wire’s LiveWire. Ujjaini published her debut novel—Manik-er Khata—in 2022.

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