-
Advertorial
-
FOCUS
-
Guide
-
Lifestyle
-
Tech and Vogue
-
TechandScience
-
CHTF Special
-
Nanshan
-
Futian Today
-
Hit Bravo
-
Special Report
-
Junior Journalist Program
-
World Economy
-
Opinion
-
Diversions
-
Hotels
-
Movies
-
People
-
Person of the week
-
Weekend
-
Photo Highlights
-
Currency Focus
-
Kaleidoscope
-
Tech and Science
-
News Picks
-
Yes Teens
-
Budding Writers
-
Fun
-
Campus
-
Glamour
-
News
-
Digital Paper
-
Food drink
-
Majors_Forum
-
Speak Shenzhen
-
Shopping
-
Business_Markets
-
Restaurants
-
Travel
-
Investment
-
Hotels
-
Yearend Review
-
World
-
Sports
-
Entertainment
-
QINGDAO TODAY
-
In depth
-
Leisure Highlights
-
Markets
-
Business
-
Culture
-
China
-
Shenzhen
-
Important news
在线翻译:
szdaily -> Markets -> 
Alibaba consortium buys stake in ZTO
    2018-05-31  08:53    Shenzhen Daily

ALIBABA Group Holding Ltd. has led a consortium of investors to buy about 10 percent of domestic courier ZTO Express (Cayman) Inc. for US$1.38 billion, as part of the e-commerce firm’s push into offline services.

The consortium includes Alibaba’s majority-owned logistics affiliate Cainiao Smart Logistics Network Ltd., Alibaba and ZTO said in a joint statement Tuesday, without disclosing the identity of other investors. They said they expect the deal to close in June.

The investment would be Alibaba’s third in a domestic courier after buying a minority stakes in YTO Express and Best Inc.

The e-commerce firm has been expanding its logistics network at home and abroad as it works to diversify its customer base. As part of that effort, it became majority shareholder in September of Cainiao, which provides logistics support to Alibaba’s main e-commerce platform, Taobao.

ZTO owns 1 percent of Cainiao, which it co-founded with Alibaba and over a dozen other Chinese companies in 2013.

ZTO’s chairman, Lai Meisong, said the latest deal would allow ZTO and Alibaba to better share resources and help ZTO cut costs through access to new technologies. He said the pair decided to enter a deal so as to work more closely on operations and build trust between affiliates.

ZTO said Alibaba will have a seat on its board.

“This trust will improve the efficiency of our cooperation,” Lai said in a telephone interview. (SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn