Deals
Alibaba Leads $1.38 Billion Investment in Delivery Giant ZTO
- The investor group will get 10% of the Chinese delivery giant
- Alibaba’s Cainiao and ZTO will then collaborate on logistics
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Alibaba Group Holding Ltd. is leading the purchase of 10 percent of Chinese delivery service ZTO Express (Cayman) Inc. for $1.38 billion, a deal that’ll augment the e-commerce giant’s ability to ship packages around the globe.
The Alibaba-led investor group includes its own logistics arm Cainiao, the company said in a statement that didn’t specify other buyers. Under an agreement, Cainiao and U.S.-listed ZTO will collaborate on everything from delivery and warehouse management to technology.