Softbank With the big acquisitions of Wework

company WeWork. img : reuters
Recently, Japan's Softbank has reached an agreement to buy a startup. According to the agreement, the Board of Directors of WeWork has accepted SoftBank's $ 5 billion bailout package and rejected the financial relief request from  JPMorgan.

 SoftBank Group paid $ 1 billion to buy shares from CEO Adam Neumann, advisory fee of $ 185 million, favored WeWork to borrow $ 500 million to pay JPMorgan's debt.

 Mr. Marcelo Claure chaired the WeWork Board of Directors

 Adam Neumann no longer holds the position of Chairman and becomes an observer of the Board of Directors. SoftBank's stake in WeWork will increase to nearly 80%, When the deal is completed.

 Mr. Neumann was given $ 1.7 billion in severance compensation to resign as chairman and give up the right to vote.