Morrison & Foerster and Skadden Arps Slate Meagher & Flom are advising as Japanese telecommunications company SoftBank Group invests $4.4bn (£3.4bn) into US workshare space company WeWork.

The deal comprises two separate investments, with $3bn (£2.3bn) being used to buy new and existing WeWork shares. A further $1.4bn (£1bn) will go to three newly created companies to fund WeWork's expansion in China, Japan, Southeast Asia and Korea.

MoFo is advising SoftBank with a team led by San Francisco corporate partner Susan Mac Cormac, London M&A partner Gary Brown, Hong Kong-based private equity partner Marcia Ellis and Tokyo corporate M&A partner Ken Siegel.

Skadden is acting for WeWork with a team led by Boston head of M&A Graham Robinson, M&A partner Laura Knoll, corporate finance partners Stacy Kanter and Ryan Dzierniejko, executive compensation and benefits partner Regina Olshan, intellectual property and technology partner Bruce Goldner and tax partner Moshe Spinowitz.

A separate Skadden team is advising on the investment of the additional $1.4m (£1bn) and is being led by corporate finance partner Will Cai, partner Mitsuhiro Kamiya and M&A partner Leif King.

The investment follows Softbank's acquisition of UK smartphone chip designers ARM for £24bn. MoFo advised the Japanese company on that deal with a team headed up by Siegel.

In July, MoFo was among the advisers on the $11.6bn (£8.9bn) takeover of Singapore-based warehouse operator Global Logistic Properties by a consortium of Chinese investors.

MoFo saw its financial performance dip in its latest financial results, with gross revenue falling 3.5% to $945m (£758m), while revenue per lawyer dropped 4.8% to $990,000 (£794,000).

Despite the firm's equity partner headcount falling to 232, a 4% decline from 2015, profit per equity partner (PEP) also decreased 9.3% to $1.41m (£1.13m).

WeWork currently has 23 offices in London alone and operates across Europe, North America, South America, the Middle East and Asia.