GIC, Temasek buy $1b of Alibaba shares from SoftBank
Singapore’s GIC Private and Temasek Holdings have bought a combined $1 billion of Chinese e-commerce giant Alibaba Group’s shares, as part of an $8.9 billion share sale by Japan’s SoftBank Group.
According to a statement, GIC and Temasek each purchased $500 million worth of Alibaba shares at $74 apiece through their individual investment vehicles. Alibaba agreed to repurchase $2 billion of its...
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