Forbes receives funding from foreign investors

The acquisition of Forbes is mainly financed by foreign investors, reports said Sarah Fisher Axios.

Fisher reports. “The structure of the deal adds uncertainty to how much foreign groups can invest, which could help mitigate any regulatory concerns.

  • Forbes was ready to sell in March to a group of mostly foreign investors. But management feared the regulatory trail and pivoted, Axios previously reported.
  • Forbes also faced public criticism over Indian investment firm Sun Group, which has had ties to Russia.

“Driving news. Forbes quietly confirmed on Friday that Austin Russell, the 28-year-old CEO of American electric car technology company Luminar Technologies, will acquire 82% of the iconic media brand, worth $800 million.

  • But Forbes and Russell did not disclose how he would finance the approximately $656 million needed to pay his share.”

Read more here.

Source link