Swiss flexible workspace provider IWG PLC is engaged in discussions with investment banks about a possible sale of its Canadian operations, Bloomberg News reported, citing a person with knowledge of the matter.
IWG plans to include its Regus and Spaces brands as well as the rights to open new locations under these brands in the potential sale and would continue to receive a portion of revenue from the businesses, according to the person.
IWG operates 3 million square feet across 133 Canadian locations, including Toronto, Vancouver and Montreal.
In late August, the London-listed company was reported to be exploring a spinoff of its U.S. business into a separate publicly traded company with a valuation of up to £3 billion.
An IWG spokesman declined to comment, the news outlet added.
