Alibaba, Cainiao lead USD 1.3 billion investment in ZTO Express

Wednesday 30 May 2018 | 08:57 CET | News
Alibaba Group and its logistic arm Cainiao Network, and ZTO Express (Cayman), an express delivery company in China, have announced that investors led by Alibaba and Cainiao will inject USD 1.38 billion in ZTO in exchange for a 10 percent equity stake in the company. The transaction is scheduled for completion in early June, subject to customary closing conditions.

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Categories: Internet
Companies: Alibaba
Countries: China
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