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Report: Deals for 2 WeWork-leased London buildings stalled amid IPO delays

Two London deals involving WeWork Cos. Inc.-leased properties have been stalled or called off amid the coworking giant's IPO delays, Bloomberg News reported, citing unnamed sources.

Singapore's Bright Ruby Resources has stalled talks for the WeWork Waterloo building after agreeing to buy the property along with an adjoining building for about £850 million in August, the news outlet reported, citing people with knowledge of the negotiations. The people noted that it was not clear what impact WeWork's IPO delays had on the deal.

WeWork Waterloo, which is fully leased by WeWork, and the adjoining building leased by Royal Dutch Shell PLC are being sold by developer Almacantar SA. The coworking giant had described WeWork Waterloo as the largest coworking facility in the world, the report noted. One of the people told Bloomberg that negotiations on a sale are ongoing with no certainty regarding the outcome.

Saudi Arabia's Sidra Capital shelved a £90 million deal for the 70 Wilson St. building near the financial district that was being sold by a venture led by Columbia Threadneedle, the news outlet added, citing other people familiar with the matter.

WeWork parent The We Co. expects to complete the IPO by 2019-end. The offering was previously slated for September.

Representatives for Almacantar, Sidra Capital, Columbia Threadneedle and WeWork declined to comment and a Bright Ruby representative was not immediately able to comment, according to the Sept. 18 report.