Deals
IWG Is Said Offer Spaces Brand for Sale in Challenge to WeWork
- Eastdil Secured appointed to offer unit to global investors
- Spaces has about 180 locations in approximately 50 countries
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IWG Plc, the serviced-office company that operates the Regus brand, has hired an adviser to sell its Spaces unit in an attempt to lure a buyer that wants to take on WeWork Cos., people with knowledge of the plan said.
The Switzerland-based company brought in broker Eastdil Secured LLC to market the unit that runs so-called design led flexible offices, the people said, asking not to be identified as the plan is private. IWG is pitching Spaces to potential buyers as an opportunity to acquire a global competitor to the richly valued WeWork, which is expanding rapidly, the people said.