A consortium of three investors, including Oracle and private-equity company Silver Lake, will acquire around 50% of TikTok U.S., according to a source familiar with the matter.
A group of existing owners in TikTok’s Chinese parent, ByteDance, will own approximately 30% of the company, according to the source. ByteDance’s current investors include Susquehanna International Group, General Atlantic, and KKR.
U.S. President Donald Trump is likely to sign a TikTok deal later on Thursday that will divest the app’s U.S. operations from ByteDance, putting an end to months of speculation about its future in the country.
According to a senior White House official, the agreement on TikTok’s U.S. operations includes ByteDance appointing one of seven board members for the new business, with Americans holding the remaining six seats.
ByteDance would possess less than 20% of TikTok U.S. in order to comply with a 2024 rule that required it to shut down by January 2025 if its U.S. assets were not sold by its China-based owner ByteDance.
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