Regus owner IWG eyes more deals after £320m Japanese sale by Telegraph.co.uk

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The boss of IWG said more deals were on the way after the FTSE 250 serviced office provider agreed to sell its Japanese business to a Tokyo-listed rival for £320m, sending its shares up more than a fifth.

Mark Dixon, who started the business formerly known as Regus three decades ago, said the deal with TKP Corporation was a “very important milestone” in his new strategy of selling off its offices to focus on partnerships with franchisees.

TKP, which rents out conference rooms and banquet halls in Japan, will acquire IWG’s entire Japanese business comprising 130 flexible co-working spaces.

The two companies have also struck a franchise agreement giving TKP the exclusive right to use IWG’s brands,…

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