£2.7bn office bid

Guy Hands has entered the fight for IWG – the £2.7bn temporary office space provider.

The buyout tycoon’s private equity group Terra Firma is looking at snapping up the firm, made up of companies such as Regus and Spaces, that rent out office space and business meeting rooms in central locations around the world.

British private equity fund TDR Capital and two uS real-estate investment groups have already made bids.

IWG confirmed that it was evaluating an approach from Terra Firma, and now looks set to be at the centre of a bidding war.