Alibaba Group Holding Ltd acquired HQG, Inc. (Kaola) for $1.87 billion, a transaction completed in September 2019, structured as cash plus approximately 14.3 million newly issued ordinary shares valued at US$316 million; aggregate purchase price US$1,874 million.
HQG, Inc. (Kaola) operates in Cross-border import e-commerce, is based in China (cross-border). Kaola is an import (cross-border) e-commerce platform in China, described as the largest such platform by GMV in the year to March 2020. In September 2019 Alibaba acquired a 100% interest from NetEase for an aggregate US$1,874 million, comprising cash and about 14.3 million newly issued Alibaba shares (worth US$316 million).
Elevate import service and experience for Chinese consumers through synergies across the Alibaba digital economy.
In September 2019, we acquired a 100% equity interest in Kaola from NetEase, Inc. for an aggregate purchase price of US$1,874 million, comprising cash and approximately 14.3 million of our newly issued ordinary shares... valued at US$316 million.Alibaba Group FY2020 Form 20-F, Information on the Company
Advisory firms were not disclosed for this transaction.