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Regus-owner IWG targets WeWork with £3bn US float

Regus-owner IWG targets WeWork with £3bn US float

Business
By Mark Kleinman, City editor The tycoon who founded International Workplace Group (IWG), the world's largest shared office provider, is hatching a secret plot to spin off its US business into a separately listed company in New York.Sky News has learnt that Mark Dixon, IWG's chief executive, is in talks with investment banks about creating a standalone business that would become a publicly traded rival to WeWork, the US unicorn targeting a valuation of about $ 50bn when it floats in the coming weeks. Image: Mr Dixon is plotting to rival to WeWork in America IWG is understood to have told bankers that it will only hire them if they have no role in WeWork's initial public offering (...
TransferWise plots share sale at £3bn valuation

TransferWise plots share sale at £3bn valuation

Business
By Mark Kleinman, City editor Digital payments group TransferWise is poised to cement its status as one of Britain's most prized technology companies by orchestrating a share sale valuing it at about $ 4bn (£3.1bn).Sky News has learnt that TransferWise has appointed Goldman Sachs to advise on the sale of approximately $ 200m (£153m) of shares by existing investors. The deal, if completed, will underline the company's reputation among the UK's tech start-ups, with a stock market flotation now likely to be on the medium-term agenda.Sources close to the situation said the secondary share sale was at an early stage, with an announcement unlikely for some time.TransferWise's putative $ 4bn valuation would be more than twice the level at which it las...
Canadian pensioners swoop on £3bn Gatwick stake

Canadian pensioners swoop on £3bn Gatwick stake

Business
Canada's biggest pension fund is preparing to swoop for part of a stake in London's Gatwick Airport that could be worth more than £3bn - days after it unveiled a plan to use its emergency runway to boost capacity. Sky News has learnt that the Canada Pension Plan Investment Board (CPPIB) is part of a group of investors which are proposing to buy out Global Infrastructure Partners (GIP), Gatwick's biggest shareholder since 2009.A deal is expected to be finalised in the coming weeks, with CPPIB participating in an agreement alongside other pension and infrastructure funds.If it proceeds with a transaction, the Canadian retirement scheme, which managed $ 356.1bn (£272bn) at the end of its financial year in March, would invest hundreds of millions of pounds in Britain...