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Alibaba Group Holding Ltd invests HK$5.37 billion in Intime Retail (Group) Company Limited's retail to fuse offline and online shopping

Wednesday, 2 Apr 2014 10:51pm EDT 

Intime Department Store (Group) Co Ltd And Alibaba Group Holding Ltd:Announced that Alibaba Group will make HK$5.37 billion strategic investment in Intime Retail.The two companies will integrate respective superior resources with a view to establishing a future commercial infrastructure system which fuses online and offline shopping.The two parties will also form a joint venture to accelerate the setting-up of the system.As part of the cooperation, Alibaba Group will make the HK$5.37 billion investment through subscribing to new shares and convertible bonds to be issued by Intime Retail.Upon completion of the transaction, Alibaba Group will hold a 9.9 pct. equity stake in Intime Retail.And about HK$3.71 billion worth of convertible bonds issued by Intime Retail. 

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