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Alibaba buys into high-street business

2014-04-01 16:43 Xinhua Web Editor: Yao Lan
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Alibaba buys into high-street business

Chinese e-commerce giant Alibaba Group announced on Monday that it will pay 5.3 billion Hong Kong dollars (692 million U.S. dollars) to acquire shares of Hong Kong-listed department store operator Intime Retail Group Co.

Intime's stocks were opened at 10.50 Hong Kong dollars per share on Monday, 16.28 percent higher than the previous trading price.

Under the two companies' agreement, Alibaba will acquire 9.9 percent of Intime's shares for 1.6 billion Hong Kong dollars, while buys 3.7-billion -HK dollar worth of convertible bonds of the high-street company.

Alibaba will exchange the bonds for Intime shares in three years so that it will eventually hold a 26-percent stake in the company.

According to the agreement, the pair will form a joint venture to develop shopping malls, department stores and supermarkets related to online-to-offline (O2O) business in China.

Zhang Yong, COO of Alibaba Group, said future business will involve integration and merging of the high-street economy and e-commerce, a process which will be assisted by big data and cloud computing technology.

As of the end of last year, Intime ran 28 department stores and eight shopping malls in China.

"Customers are changing their shopping habits with the development of Internet technology. Intime should adapt to the changes and enter cyberspace to cater to customers' shopping demands," said Shen Guojun, board chairman of Intime.

 

阿里巴巴将以53.7亿港币投资银泰商业集团

阿里巴巴集团与港股上市公司银泰商业集团31日宣布,阿里巴巴将以53.7亿元港币战略投资银泰商业,双方将整合优势资源,构造打通线上线下的未来商业基础设施体系,并对社会开放,推动实体商业与互联网经济融合。双方还表示,将组建合资公司,快速推进该体系的建设。

据介绍,阿里巴巴将以认购银泰商业新股及可转换债券的方式进行投资,总投资额53.7亿元港币。交易完成后,阿里巴巴将持有银泰商业9.9%的股份及总额约37.1亿元港币的可转换债券。双方约定在未来三年内,在相关法律法规许可的前提下,阿里巴巴可将可转换债券转换为银泰商业的普通股股份,从而使得阿里集团最终在银泰商业的持股比例达到26%。

银泰商业于上周四在港交所停牌。周一早间复牌,银泰股价涨16%。

银泰商业集团董事局主席沈国军表示,技术在快速进步,必须要学习和应用,“顾客在改变我们,银泰应该更主动地拥抱消费者的变化。期待新银泰率先进入未来零售时空,满足消费者的需求。”

阿里巴巴集团首席运营官张勇表示,商业未来趋势是走向电子化,实体经济与互联网经济将基于大数据、云计算等技术实现融合互补,此次合作希望能打造一套开放的基础设施,推动实体经济与互联网经济的结合。

据了解,阿里巴巴和银泰商业在过去一年间多次尝试过O2O合作,试图打通线上线下。作为中国银泰投资有限公司旗下的商业集团,银泰商业主要从事百货商场以及购物中心的经营和管理业务,于2007年在港交所挂牌上市。截至2013年底,银泰商业共经营36家门店,包括28家百货店及8家购物中心。

一周前发布的年报显示,银泰商业2013年销售额同比增长12.6%,营收同比增长15.4%。

 

 

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