Alibaba Group Holding Limited (NYSE: BABA) (“Alibaba”) and its logistic arm Cainiao Network (“Cainiao”), and ZTO Express (Cayman) Inc. (NYSE: ZTO) (“ZTO”), a leading and fast-growing express delivery company in China, today announced a strategic agreement in which investors led by Alibaba and Cainiao will invest US$1.38 billion in ZTO in exchange for an approximately 10% equity stake in the company. The transaction is expected to close in early June, subject to customary closing conditions.
Full story here: https://logisticsmagazine.com.au/alibaba-leads-us1-4bn-investment-in-chinese-delivery-service-zto/
Submitted May 30, 2018 at 02:43AM by WordTweak https://ift.tt/2H3uqL7
