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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