Suning Sells Stake to Alibaba; Expects $3.2bn Loss in H1
China’s Suning.com has reached a deal to sell a 16.96% stake worth $1.36bn to a consortium led by Nanjing state asset management committee and the Jiangsu provincial government. The other members of the consortium include Alibaba Group Holding Ltd., Midea Group...
Consortium Led by Alibaba and Jiangsu Government Near a Deal to Bail out Suning
A consortium led by Alibaba Group and the Jiangsu Provincial government are set to buy a stake in Suning.com according to sources. They added that Suning.com is expected to make an announcement this week, and their founder Zhang Jindong will not have control of the...
Suning to Buy Assets from PE Fund, Funded by an Equity Issuance and Cash
Suning.com is planning to buy unspecified assets/companies from a local PE fund backed by Shenzhen Capital Group. The purchase will be funded by issuing new shares and partly by cash and will dilute founder Zhang Jindong’s control to less than the 21% he holds...
