Alibaba Group Holding Ltd acquired Koubei Holding Limited for US$465 million cash (RMB39.8 billion total consideration), a transaction completed in December 2018, structured as US$465 million (RMB3,196 million) cash plus non-cash consideration; total purchase price RMB39,834 million including revaluation of previously held interest. The deal was a Consolidation / control (local-services combination).
Koubei Holding Limited operates in Local services, is based in China. Koubei is a leading restaurant and local-services guide platform for in-store consumption in China, originally a 2015 joint venture between Alibaba and Ant Financial. In December 2018 Alibaba combined Ele.me and Koubei under a new local-services holding company, paying US$465 million in cash; the accounting recognized total consideration of RMB39,834 million, most of it the fair value of previously held interests.
Unify food delivery (Ele.me) and in-store local services (Koubei) into a single local-services platform.
Local services holding company (with Ele.me)
In December 2018, the Company completed the integration of Ele.me and Koubei under a newly established holding company and paid a cash consideration of US$465 million (RMB3,196 million).Alibaba Group FY2019 Form 20-F, business combinations note
Advisory firms were not disclosed for this transaction.