By  on March 30, 2014

Alibaba Group Holdings Ltd. said Monday it has agreed to invest $692 million in Chinese department store operator Intime Retail in a bid to create “online to offline” retail opportunities.

Alibaba said it will buy a 9.9 percent equity stake in Intime for $214 million. The Web giant also said it will subscribe to $478 million worth of convertible bonds issued by Intime which, if converted, would translate to a stake of at least 25 percent in the company.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus