WeWork CEO Adam Neumann's plan to sell properties to a unit of the company is a move to eliminate a potential conflict of interest ahead of an expected IPO
WeWork Cos. Chief Executive Adam Neumann plans to sell the properties he owns and leases to the office-space company to a real-estate investment unit run by WeWork, the company said Wednesday, a move to eliminate a potential conflict of interest ahead of an expected initial public offering.
WeWork’s real-estate acquisition unit—funded by outside investors—plans to buy the properties at the cost Mr. Neumann paid, a spokesman said.
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