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Alibaba invests $692 million for a presence in physical retail |
March 31, 2014
Alibaba Group is investing about US$692 million in retail company Intime Retail with the aim of setting up a joint venture that aims to provide linkages between their online and physical retail businesses in China.The Chinese e-commerce giant will invest $214 million in shares of Intime, besides acquiring $478 million in convertible bonds, according to a filing by Intime on Monday to the Hong Kong stock exchange.The equity investment will give Alibaba a 9.9 percent share of the enhanced share capital of the company besides giving it the option to acquire a larger stake by converting its bonds into up to 18 percent of the share capital after conversion.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2137800/alibaba-invests-692-million-for-a-presence-in-physical-retail.html#tk.rss_all
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