Deals
Billionaire Alwaleed Buys 360buy Stake for China Expansion
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Saudi billionaire Prince Alwaleed bin Talal bought a stake in Chinese online retailer 360buy Jingdong Inc., joining a group of investors in tapping one of the world’s fastest growing e-commerce markets.
360buy raised about $700 million from the Alwaleed-controlled Kingdom Holding Co., Canada’s Ontario Teachers Pension Plan and some existing major shareholders, the Beijing-based company said in an e-mailed statement today. Kingdom invested $125 million in Beijing-based 360buy, the investment company said Feb. 16.