Alibaba ups stake in Cainiao Smart Logistics

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Alibaba Group will invest $3.3 billion to increase its equity stake in Cainiao Smart Logistics Network from 51% to 63%.

The increased equity stake will come from newly issued ordinary shares in its latest financing round and purchasing certain equity interest from an existing Cainiao shareholder.

With more financial resources, Cainiao will continue to invest in technologies and logistics infrastructure services to strengthen its smart logistics network and enable innovations in business models, services and technological capabilities.

Daniel Zhang, executive chairman and CEO of Alibaba Group says: “Cainiao strives to enhance service and user experience for merchants and consumers through superior technology and digital solutions, both within China and around the world. We are committed to supporting its ongoing development, to realising greater synergies throughout the entire Alibaba Economy and accelerating digitisation of the logistics industry.”

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