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US-based WeWork receives merger clearance from CCI to exit India

By Freny Patel ( June 19, 2024, 00:28 GMT | Insight) -- US-based WeWork International has received merger clearance to sell its 27 percent shareholding in its domestic Indian co-working arm, WeWork India Management, to its local joint venture partner, Embassy Group. WeWork International's exit from the Indian market involves a two-step process in which the US parent company and its domestic joint venture partner will sell around a 40 percent stake in the local arm, the Competition Commission of India said, adding that a detailed order would follow. US-based WeWork International has received merger clearance to sell its 27 percent shareholding in its Indian domestic co-working arm WeWork India Management to its local joint venture partner, Embassy Group....

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