Alibaba Group Holding Ltd overhauled its pact with the parent of its payments affiliate Alipay, boosting the Chinese e-commerce giant's potential gain if Alipay is sold or goes public, according to an amended Alibaba filing on Tuesday.
Alibaba, which is set to go public in New York later this year, also agreed to sell its small and medium enterprise loan business for $518 million cash to Alipay's parent company, called the Small and Micro Financial Services Company.
The deal was revised on Aug 12, Alibaba said in the securities filing. The earlier agreement was reached in 2011.
|
 |
 |
| Alibaba, SMG team up to create new media platform | Top 10 ways Alibaba is building an empire |
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 20100000002731 
