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Approximately RMB28.3 billion (US$4.63 billion)
- Alibaba Group Holding Limited (NYSE:BABA) (“Alibaba”) and Suning Commerce Group Limited (SSE:002024) (“Suning”) today announced that Alibaba will invest approximately RMB28.3 billion (US$4.63 billion) for a 19.99% stake in Suning, one of the largest consumer electronics retail chains in China.
www.marketscreener.com/quote/stock/ALIBABA-GROUP-HOLDING-LIM-17916677/news/Alibaba-and-Suning-Commerce-Enter-Into-Strategic-Alliance-20836998/
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Alibaba is spending Rmb28.3bn ($4.6bn) on buying a 19.99 per cent stake in Suning, a transaction that is the ecommerce group’s biggest yet and makes it Suning’s second-biggest shareholder.
Jul 7, 2021 · Chinese billionaire Zhang Jindong (張近東) secured a US$1.36 billion state-backed bailout for the troubled retail arm of his Suning (蘇寧) empire, marking another step in Beijing’s efforts to clean up its heavily indebted conglomerates.
Aug 10, 2015 · Alibaba Group Holding Limited (NYSE:BABA) (“Alibaba”) and Suning Commerce Group Limited (SSE:002024) (“Suning”) today announced that Alibaba will invest approximately RMB28.3 billion (US$4.63 billion) for a 19.99% stake in Suning, one of the largest consumer electronics retail chains in China.
Jul 6, 2021 · Alibaba has joined Chinese local government and corporate backers to bail out the country’s biggest bricks-and-mortar retailer. Shares in Suning rose 10 per cent before hitting a daily...
Jul 6, 2021 · (Bloomberg) -- Chinese billionaire Zhang Jindong secured a $1.36 billion state-backed bailout for the troubled retail arm of his Suning empire, marking another step in Beijing’s efforts to...
Aug 10, 2015 · Chinese online retail giant Alibaba has said it will invest $4.6bn (£2.9bn) in electronics chain Suning, one of China's largest physical retailers.
Jun 22, 2021 · Alibaba (9988.HK) may be the simple solution to Suning.com’s (002024.SZ) mounting debt problems. The e-commerce giant’s 20% stake in the embattled Chinese retailer has plunged by two-thirds in...
