Chinese Internet giant Alibaba Group Holding Ltd. has agreed to make an additional investment of RMB5.3 billion (US$807 million) to increase its ownership of Cainiao Network and to become a controlling shareholder of its logistics services affiliate. Once completed, Alibaba will see its stake in Cainiao increase from 47% to 51%, and will gain one additional new seat on the logistic platform’s board. It will enhance Alibaba’s board representation to four out of seven seats, according to a company announcement. …

Alibaba To Inject $807M In Its Logistics Affiliate Cainiao Network To Enhance Delivery Services appeared first on China Money Network.

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