NEW YORK (BLOOMBERG) - Centricus Asset Management Ltd and Triller Inc are seeking to buy TikTok's operations in the US and several other countries from ByteDance Ltd for US$20 billion (S$27 billion), according to a person familiar with the matter.. Read more at straitstimes.com.
NEW YORK - Centricus Asset Management Ltd and Triller Inc are seeking to buy TikTok's operations in the US and several other countries from ByteDance Ltd for US$20 billion , according to a person familiar with the matter.
The proposal would be made up of US$10 billion in cash up front and US$10 billion in profit-sharing from the resulting venture, the person said. A representative for Centricus confirmed the company had made an offer with Triller for TikTok assets in the US and some other countries. A spokesperson for Triller didn't immediately respond to requests for comment.
The administration is also demanding that the buyer of TikTok's US business be an American company, which makes it unclear how a Centricus bid will be received, even with Triller involved. TikTok Chief Executive Officer Kevin Mayer, a high-profile hire who joined ByteDance three months ago, resigned this week, saying the"political environment has sharply changed."
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