Alibaba Group Holding Ltd acquired DSM Grup Danismanlik Iletisim ve Satis Ticaret (Trendyol) for $728 million, a transaction completed in July 2018, structured as all cash, US$728 million (RMB4,980 million).
DSM Grup Danismanlik Iletisim ve Satis Ticaret (Trendyol) operates in International e-commerce (Turkey), is based in Turkey. Trendyol is a leading online fashion retailer in Turkey. Alibaba acquired an approximately 85% equity interest in July 2018 for US$728 million, with arrangements allowing the founders to adjust their holdings in the future. It became Alibaba's platform for the Turkish and broader regional market.
Establish a controlling e-commerce presence in Turkey as part of globalization.
In July 2018, the Company acquired an approximately 85% equity interest in Trendyol for a cash consideration of US$728 million (RMB4,980 million).Alibaba Group FY2019 Form 20-F, business combinations note
Advisory firms were not disclosed for this transaction.