Alibaba inks exclusive tie-ups with global brands to sell in China
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Alibaba (BABA) to Take $4.6B Stake in Consumer Electronics Giant Suning
August 10, 2015 6:25 AM EDTAlibaba (NYSE: BABA) and Suning Commerce Group Limited announced that Alibaba will invest approximately RMB28.3 billion (US$4.63 billion) for a 19.99% stake in Suning, one of the largest consumer electronics retail chains in China. After the closing of the investment in Suning, Alibaba will be the second-largest shareholder in the company.
Concurrent with Alibabas investment in Suning, Suning will invest up to RMB14 billion (US$2.28 billion) to subscribe for up to 27.8 million newly issued ordinary shares of Alibaba. After the investment, Suning will hold approximately a 1.1% interest in Alibabas enlarged issued and outstanding share... More
