BRIEF-Bytedance, Tiktok Signed Deals With Oracle, Silver Lake, MGX, To Form New Tiktok U.S. JV, Memo Shows

Reuters06:32

BRIEF-Bytedance, Tiktok Signed Deals With Oracle, <a href="https://laohu8.com/S/SLR.AU">Silver Lake</a>, MGX, To Form New Tiktok U.S. JV, Memo Shows

Dec 18 (Reuters) - MEMO FROM TIKTOK CEO SEEN BY REUTERS:

TIKTOK SIGNED AGREEMENTS WITH INVESTORS REGARDING A NEW TIKTOK U.S. JOINT VENTURE- MEMO FROM TIKTOK CEO SEEN BY REUTERS
BYTEDANCE ,TIKTOK SIGNED DEALS WITH ORACLE, SILVER LAKE, MGX, TO FORM NEW TIKTOK U.S. JV NAMED TIKTOK USDS JOINT VENTURE LLC- A MEMO FROM TIKTOK CEO
U.S. JV TO BE RESPONSIBLE FOR U.S. DATA PROTECTION, ALGORITHM SECURITY, CONTENT MODERATION, & SOFTWARE ASSURANCE- MEMO FROM TIKTOK CEO
U.S. JOINT VENTURE WILL BE 50% HELD BY A CONSORTIUM OF NEW INVESTORS- MEMO FROM TIKTOK CEO
UPON CLOSING, U.S. JOINT VENTURE WILL OPERATE AS AN INDEPENDENT ENTITY- MEMO FROM TIKTOK CEO
TRANSACTION WILL BE COMPLETED NO LATER THAN 120 DAYS FROM THE DATE OF THE EXECUTIVE ORDER- MEMO FROM TIKTOK CEO
U.S. JV WILL BE 30.1% HELD BY AFFILIATES OF CERTAIN EXISTING INVESTORS OF BYTEDANCE; AND 19.9% WILL BE RETAINED BY BYTEDANCE- MEMO FROM TIKTOK CEO

((Reuters.Briefs@thomsonreuters.com;))

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