Alibaba Group Holding Ltd acquired Kaiyuan Commerce Co., Ltd. for RMB3.36 billion, a transaction completed in April 2018, structured as all cash, RMB3,362 million.
Kaiyuan Commerce Co., Ltd. operates in New Retail / department stores, is based in China (northwest). Kaiyuan is a leading department-store operator in northwestern China. Alibaba acquired a 100% equity interest in April 2018 for RMB3,362 million as part of its New Retail expansion into offline department stores.
Broaden offline retail coverage under the New Retail strategy.
Advisory firms were not disclosed for this transaction.