Alibaba Group Holding Ltd acquired Intime Retail (Group) Company Limited for HK$12.6 billion, a transaction completed in May 2017, structured as cash of HK$12,605 million (RMB11,131 million), HK$10.00 per share.
Intime Retail (Group) Company Limited operates in New Retail / department stores, is based in China. Intime is a leading department-store operator in China, formerly listed in Hong Kong. Alibaba had built a stake from 2014; in May 2017 it and Intime's founder completed a privatization at HK$10.00 per share, taking Alibaba's holding to about 74% and consolidating Intime as it pursued its New Retail strategy.
Advance the New Retail strategy of merging online and offline commerce through a controlled brick-and-mortar operator.
The Company paid a cash consideration of HK$12,605 million (RMB11,131 million) in the privatization... the Company increased its shareholding in Intime to approximately 74% and Intime became a consolidated subsidiary.Alibaba Group FY2018 Form 20-F, business combinations note
Advisory firms were not disclosed for this transaction.