News this week: The leading e-commerce company in China, Alibaba Group, has plans
to invest S$312.5 million (US$250 million) in Singapore’s publicly-traded mail
carrier, Singapore Post Ltd. (SingPost).
Under the agreement, Alibaba’s subsidiary, Alibaba
Investment Ltd. will buy a 10.35% stake in SingPost, including 30 million of
the existing ordinary shares and 190 million new ordinary shares. Part of the
deal will also see the formation of a joint venture (JV) in international
e-commerce logistics.
According to a press release issued by SingPost and Alibaba,
the JV will explore “e-commerce opportunities in Southeast Asia and beyond by
providing… greater access to SingPost’s international logistics capabilities,
infrastructure and delivery networks, as well as end-to-end solutions to
Alibaba Group customers and merchants.”
SingPost is Singapore’s designated postal carrier and listed
on the Singapore Stock Exchange.
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