Mergers and Acquistions News
Categories: Media & Information Services
November 3rd 2011, 13:47PM
A consortium of investors have completed a deal worth $1.6 billion (£998 million) to acquire a five per cent stake in the Alibaba Group, it has emerged.
According to an anonymous source close to the deal, Silver Lake has joined forces with private equity firm Yunfeng and several other parties - including Russian body DST Global - to put together an offer for this proportion of the company that has been accepted, Reuters reports.
The Alibaba Group was founded in 1999 by Jack Ma and was designed to make it easy and safe for people to buy, sell and trade products in the online marketplace.
It has since grown into a major global brand with activities in more than 240 countries and in excess of 25,000 employees based in cities such as China, India, the US and Britain.
Therefore, private equity groups are eager to take a stake in the firm, which is established as the largest e-commerce organisation in China. 
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)