Deals
WeWork in Talks to Buy $785 Million Blackstone London Project
- Flexible-office company WeWork plans to buy Devonshire Square
- Deal would be WeWork’s second major property investment
Pedestrians pass through the Devonshire Square in London.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
WeWork Cos., the $20 billion shared-office business, is in exclusive talks to buy a 12-building campus in the City of London financial district from Blackstone Group LP, two people with knowledge of the plan said.
New York-based WeWork has agreed to pay more than 600 million pounds ($785 million) for Devonshire Square, a group of former warehouses close to Liverpool Street rail station, the people said, asking not to be identified as the deal is not yet signed. Spokesmen for Blackstone and WeWork declined to comment.