February 1, 2018 / 11:41 AM / 10 months ago

BRIEF-Alibaba Group Agrees To 33% Equity Stake In Ant Financial

Feb 1 (Reuters) - Alibaba Group Holding Ltd:

* ALIBABA GROUP AGREES TO 33% EQUITY STAKE IN ANT FINANCIAL

* ALIBABA GROUP HOLDING LTD - THERE WILL BE NO CASH IMPACT TO ALIBABA FOLLOWING COMPLETION OF TRANSACTION

* ALIBABA GROUP HOLDING LTD - ‍PARTIES HAVE AGREED TO CERTAIN AMENDMENTS TO THEIR 2014 TRANSACTION AGREEMENTS TO FACILITATE TRANSACTION​

* ALIBABA GROUP HOLDING LTD - ALIBABA WILL ACQUIRE NEWLY-ISSUED EQUITY FROM ANT FINANCIAL

* ALIBABA GROUP - TRANSACTION WAS REVIEWED & APPROVED BY A COMMITTEE OF NON-EXECUTIVE DIRECTORS, “MAJORITY OF WHOM ARE INDEPENDENT UNDER NYSE RULES”

* ALIBABA GROUP HOLDING LTD - UPON CLOSING, COMPANIES WILL TERMINATE CURRENT PROFIT-SHARING ARRANGEMENT

* ALIBABA GROUP HOLDING LTD - ALIBABA WILL ACQUIRE EQUITY INTEREST IN ANT FINANCIAL THROUGH A CHINESE DOMESTIC SUBSIDIARY

* ALIBABA GROUP-TO ACQUIRE EQUITY FROM ANT FINANCIAL IN EXCHANGE FOR SOME INTELLECTUAL PROPERTY RIGHTS OWNED BY CO EXCLUSIVELY RELATED TO ANT FINANCIAL​ Source text for Eikon: Further company coverage:

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