Alibaba Group Holding Ltd acquired Cainiao Smart Logistics Network Limited for $803 million, a transaction completed in October 2017, structured as all cash, US$803 million (RMB5,322 million) subscription for newly issued shares. The deal was a Control step-up (~47% to ~51%).
Cainiao Smart Logistics Network Limited operates in Logistics, is based in China / global. Cainiao operates a logistics data platform that coordinates third-party partners to offer domestic and international one-stop logistics and supply-chain services. Alibaba held about 47% before subscribing to newly issued shares for US$803 million in October 2017, lifting its stake to about 51% and consolidating Cainiao as a subsidiary.
Consolidate the logistics backbone that fulfills merchant and consumer orders at scale across Alibaba's commerce platforms.
In October 2017, the Company completed the subscription for newly issued ordinary shares of Cainiao Network for a cash consideration of US$803 million (RMB5,322 million)... the Company's equity interest in Cainiao Network increased to approximately 51% and Cainiao Network became a consolidated subsidiary.Alibaba Group FY2019 Form 20-F, business combinations note
Advisory firms were not disclosed for this transaction.