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BRIEF-Alibaba to take majority stake in Cainiao Network
September 26, 2017 / 4:06 AM / 3 months ago

BRIEF-Alibaba to take majority stake in Cainiao Network

Sept 26 (Reuters) - Alibaba Group Holding Ltd

* Alibaba to take majority stake in Cainiao Network

* Says additional investment of RMB5.3 billion (US$807 million) will increase Alibaba’s stake to 51%

* Announces intention to invest an additional RMB100 billion (US$15.2 billion) over next five years to expand its logistics network

* Says Credit Suisse acted as financial advisor to Alibaba and Morgan Stanley acted as financial advisor to Cainiao Source text for Eikon: Further company coverage:

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