Alibaba invests $3.3b in logistics affiliate Cainiao
Alibaba Group has enlarged a controlling stake in its PE-backed shipping affiliate Cainiao Smart Logistics Network with a $3.3 billion investment.
It brings the parent's interest in the company from 51% to 63%. This follows an approximately $800 million investment in 2017 that increased Alibaba’s holding from 47% to 51%. One other existing investor...
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