Rhône transfers 50 pct of HBC investment to JV with WeWork
WeWork Property Advisors LLC (WPA), a joint venture of Rhône Capital and WeWork Cos Inc, has acquired about 50 percent of the interest in a Rhône affiliate that holds the U.S. private equity firm's preferred investment in Canadian retailer Hudson’s Bay Co ((TSX: HBC). WPA paid about $326 million (US$248 million) for the interest. Rhône said the deal was contemplated last year when it agreed to invest about $632 million (US$500 million) in HBC. SoftBank-backed WeWork, a U.S. co-working space provider, at the same time agreed to buy HBC's Lord & Taylor building for US$850 million.
17 July 2018•4 mins read
