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C Street Advisory Group is handling WeWork as the office-sharing company files for Chapter 11, falling victim to the transition to work-from-home and high lease costs.
The company, which had a market valuation of $47B in 2019, was worth $45M at the Nov. 6 restructuring filing.
It is counting on the success of a “value maximizing lease rejection plan” to position for operational and financial success.
CEO David Tolley promised to aggressively address WeWork’s legacy leases and dramatically improve its balance sheet.
“We defined a new category of working, and these steps will enable us to remain the global leader in flexible work,” he said.
Tolley said WeWork “has a strong foundation, a dynamic business and a bright future.”
FGS Global represents private equity firm Thoma Bravo as it makes a $4.6B bid for Darktrace, a UK-based cybersecurity artificial intelligence firm.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
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