According to online reports, according to the terms of the transaction, multiple people familiar with the matter revealed that a group of new external investors including a16z, Blackstone Group, Silver Lake Capital and other large private equity capitals will own about half of TikTok's U.S. business. These people said the U.S. business would be spun off from its Beijing-based parent company, ByteDance. TikTok's existing major investors, including General Atlantic, Susquehanna, KKR and Coatue, will also hold approximately 30% of the U.S. business. According to people involved in the process, the plans are still in their preliminary stages and may change. This came ahead of an April 5 legal deadline in the United States that requires the app to be banned in the United States unless Beijing owners sell it to China entities. President Trump's officials are scheduled to meet Wednesday to discuss the negotiations, and multiple people said the deal could be announced soon if the president gives approval. A White House spokesman said: "If there is a statement about TikTok, it will be made by President Trump. "