IWG is working with bankers at Wells Fargo on the sale of up to 50% of its digital assets platform, which includes The Instant Group, Sky News learns.
IWG, the serviced offices giant, is exploring the sale of a major stake in its digital operation in a deal that could generate proceeds of about £800m.
IWG, formerly known as Regus, has said publicly that it would combine its digital assets with those of The Instant Group as part of a transaction which saw the London-listed company injecting £270m of cash into the combined entity. Tim Rodber, chief executive of the division, held talks with a number of private equity firms last year following a string of unsolicited approaches for it.
Mr Dixon is said to believe that the company is severely undervalued by public market investors, and has considered deals including a combination with a US-listed special purpose acquisition company for Worka, an app that helps IWG clients to compare and book places to work at thousands of sites globally.
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