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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.”
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
Prosek Partners brings on Danielle O’Brien as a managing director in its investor relations practice, based in the firm’s New York office.
