TikTok finally signs deal to sell its US entity to joint venture controlled by American investors

TikTok has signed a deal to sell its U.S. entity in a joint venture majority-controlled by American investors Oracle and Silver Lake, along with Abu Dhabi-based MGX.

Those firms are set to own 45 percent of the U.S. company, at 15 percent each, while roughly one-third will be held by affiliates of existing ByteDance investors. Nearly 20 percent will be retained by ByteDance.