Deals
Alibaba Chairmen Said to Plan $2 Billion Loan Against Stock
- Money may be used to help fund family office Blue Pool Capital
- Credit Suisse, Goldman Sachs, Morgan Stanley working on deal
Alibaba Chairmen Said to Plan $2B Loan Against Stock
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Alibaba Group Holding Ltd. Chairman Jack Ma and Vice Chairman Joseph Tsai are planning to raise more than $2 billion through a margin loan pledged against the company’s stock, according to people familiar with the matter.
The money raised may be used to fund Blue Pool Capital Ltd., the family office of Alibaba set up by Tsai, two of the people said, asking not to be named as details aren’t public. Credit Suisse Group AG, Goldman Sachs Group Inc. and Morgan Stanley are among banks working on the transaction, they said.