According to reports citing sources, South Korea's Mirae Asset Financial Group plans to commit about 300 billion Korean won ($208 million) to help finance Elon Musk's $44 billion buyout of Twitter Inc.
The agreement with Mirae is expected to be finalized in the coming days, ahead of the Oct. 28 deadline for closing the Twitter deal.
According to reports, Mirae Asset made an investment in Musk's rocket and satellite company SpaceX earlier this year.
There was no comment available from Musk's side as well as Mirae Asset.
Mirae Asset's investment plan for Twitter was previously reported by the Korea Economic Daily.
"Mirae Asset is creating a 300 billion won fund to support Musk's takeover of Twitter, according the to investment banking industry. The structure (of the fund) is to jointly acquire a stake in Twitter with Musk," the newspaper reported
Analysts believe Musk needs to attract more equity investors to fund the Twitter acquisition and avoid further sales of his Tesla stock (TSLA.O).
A Delaware judge gave Musk until Oct. 28 to complete his takeover of the social media platform.
Tesla investors were concerned that the billionaire would sell more Tesla stock to finance the transaction, putting pressure on the company's stock.
(Source:www.khaleejtimes.com)
The agreement with Mirae is expected to be finalized in the coming days, ahead of the Oct. 28 deadline for closing the Twitter deal.
According to reports, Mirae Asset made an investment in Musk's rocket and satellite company SpaceX earlier this year.
There was no comment available from Musk's side as well as Mirae Asset.
Mirae Asset's investment plan for Twitter was previously reported by the Korea Economic Daily.
"Mirae Asset is creating a 300 billion won fund to support Musk's takeover of Twitter, according the to investment banking industry. The structure (of the fund) is to jointly acquire a stake in Twitter with Musk," the newspaper reported
Analysts believe Musk needs to attract more equity investors to fund the Twitter acquisition and avoid further sales of his Tesla stock (TSLA.O).
A Delaware judge gave Musk until Oct. 28 to complete his takeover of the social media platform.
Tesla investors were concerned that the billionaire would sell more Tesla stock to finance the transaction, putting pressure on the company's stock.
(Source:www.khaleejtimes.com)
