Alibaba, the world’s largest e-commerce company, has increased its equity stake in Cainiao, a provider of automated logistics systems. The two companies have been partners for some time and last year opened what was reported to be the largest robot-operated warehouse in China.
The additional investment in Cainiao Smart Logistics Network totals RMB23.3 billion (US$3.3 billion) and increases Alibaba’s equity from approximately 51 per cent to approximately 63 per cent.
The investment method used involved subscribing for newly issued Cainiao ordinary shares in its latest financing round and purchasing certain equity interest from an existing Cainiao shareholder. [Read more…] about Alibaba increases stake in Cainiao by $3.3 billion