Slaughter and May is advising IWG plc on its strategic partnership with TKP in Japan15 Apr 2019
Slaughter and May is advising IWG plc (“IWG”), the global operator of leading co-work and workspace brands, on its strategic partnership with TKP Corporation (“TKP”) in Japan. IWG has agreed to sell its Japanese operations to TKP for gross consideration of £320 million (subject to completion adjustments for cash, debt and working capital) and to enter into a long-term master franchise agreement with TKP, which provides TKP with exclusive rights to the use of the Regus, Spaces and OpenOffice brands in Japan.
Completion is expected to occur in May 2019 and is conditional only on Japanese anti-trust clearance.
Corporate: Paul Mudie (partner), Andy Ryde (partner), Sarahanne Jackson (associate), David Plant (associate), Jade Ewers (trainee); Infrastructure and Commercial Contracts: Richard Todd (partner), Simon Bartle (associate); Tax: Michael Lane (partner), Victoria Hine (associate)
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