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Alibaba to invest $3.3B to bump its stake in logistics unit Cainiao

Alibaba to invest $3.3B to bump its stake in logistics unit Cainiao

on Friday
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https://techcrunch.com/2019/11/08/alibaba-cainiao-63-percent/

Alibaba is doubling down on its logistics affiliate Cainiao, two years after acquiring a majority stake in the firm. The Chinese giant said today it would invest an additional 23.3 billion yuan (about $3.33 billion) to raise its equity in Cainiao to 63% from 51%.

In a statement, Alibaba said it will subscribe newly issued Cainiao shares in its latest financing round and also purchase equity interest from a certain, unnamed Cainiao shareholder.