Signa Agrees Sale of Iconic Venice Hotel to Schoeller Group
Signa Prime Selection AG has agreed to sell three Italian properties, including the five-star Hotel Bauer in Venice, to the Schoeller Group.
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Signa Prime Selection AG has agreed to sell three Italian properties, including the five-star Hotel Bauer in Venice, to the Schoeller Group.
NatWest Group Plc beat earnings estimates in the first quarter as lending and deposits increased while customers started to feel more confident.
Singapore home prices grew at a slower pace last quarter and rents fell, as the city-state’s property boom began to lose steam.
Hong Kong home prices rose for the first time in almost a year in March as the city’s removal of property curbs revived sales.
Greater China’s property market crisis and the challenges it poses for lenders will be on full display on Monday, when embattled developer China Vanke Co. and the region’s biggest banks report earnings.
Oct 18, 2019
Bloomberg News
,SoftBank Group Corp. is assembling a rescue financing plan for WeWork that may value the office-sharing company below US$8 billion, according to people familiar with the discussions.
The new figure is a fraction of the US$47 billion valuation the startup commanded as recently as January. The talks are fluid and the terms could change, said the people, who requested anonymity because the discussions are private.
WeWork, reeling since it scrapped its initial public offering, has been considering dueling plans from SoftBank and JPMorgan Chase & Co. to shore up its finances before it runs out of cash as early as next month. The company’s board could make a decision as soon as this weekend, according to some of the people familiar with the situation.
Representatives for WeWork and SoftBank declined to comment.
JPMorgan has been pitching investors on a US$5 billion junk-debt package for WeWork. The unsecured and secured notes portion of the bank’s plan are being offered on a “best-efforts” basis, according to people familiar with the matter, meaning banks haven’t committed to funding the deal irrespective of investor demand.
The bank has been sharing its proposal with about 100 investors as it tries to line up support for what would be one of the riskiest debt offerings in recent years, people with knowledge of the matter said earlier this week.