Friday, December 13, 2013

Alibaba invests US$364 million in Haier to boost China logistics

News this week: Alibaba Group and white-goods and electronics manufacturer Haier Group announced this week that the two companies have formed a strategic partnership. They will jointly offer online sales and delivery of household appliances in China.

Under the terms of the deal, Alibaba Group will also invest US$364 million in Haier Electronics. Of that amount, US$240 million will be invested into one of Haier’s logistics-focused subsidiaries. Alibaba will also acquire a 2% stake in Haier Electronics.

Executive Chairman of the Alibaba Group, Jack Ma, commented, “We will create value for our customers and as a result create value for Alibaba Group and Haier Group. The new economy is not the digital economy, but rather one that combines the real economy and digital economy, a true blending of ‘virtual’ and ‘real.’”

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