SHANGHAI :
WeWork Sells Control of China Arm for USD200 Million to Group Led by Trustbridge
Xu Wei
DATE:  Sep 24 2020
/ SOURCE:  Yicai
WeWork Sells Control of China Arm for USD200 Million to Group Led by Trustbridge WeWork Sells Control of China Arm for USD200 Million to Group Led by Trustbridge

(Yicai Global) Sept. 24 -- A group led by Trustbridge Partners Management has poured USD200 million into WeWork China to become the coworking space operator's controlling shareholder. 

Michael Jiang, operating partner of the growth equity firm that has offices in Boston and in Shanghai, will serve as WeWork China's acting chief executive, the Paper reported. Before these roles, Jiang held the title of senior vice president at lifestyle services giant Meituan Dianping.

The move will fully localize the office space management company's operations in China, the report added.

Since WeWork entered China in 2016, it has established more than 100 communities in 12 cities, including Shanghai, Beijing, and Hong Kong, while providing office solutions for more than 65,000 clients.

Editor: Emmi Laine 

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Keywords:   Trustbridge,WeWork,WeWork China