Alibaba (BABA) to Take $4.6B Stake in Consumer Electronics Giant Suning
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Alibaba and Suning Commerce Enter Into Strategic Alliance
August 10, 2015 4:17 AM EDTBuilds on Synergies in Ecommerce, Logistics and O2O Initiatives
HANGZHOU, China--(BUSINESS WIRE)-- Alibaba Group Holding Limited (NYSE: BABA) (Alibaba) and Suning Commerce Group Limited (SSE: 002024) (Suning) today 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.
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