The Chinese ecommerce giant has turned again to its U.S. law firm of choice for an investment in bricks-and-mortar electronics retailer Suning.
August 10, 2015 at 10:12 AM
1 minute read
The original version of this story was published on Global Lawyer News
Simpson Thacher & Bartlett and Sullivan & Cromwell are leading on ecommerce giant Alibaba Holdings Ltd.’s $4.6 billion investment in Chinese retailer Suning Commerce Group Ltd.
In a deal announced on Monday, Hangzhou-based Alibaba said it was buying a 19.9 percent stake in electronics store chain Suning. Meanwhile, Nanjing-based Suning will also buy $2.3 billion worth of Alibaba shares and hold a 1.1 percent stake in the New York Stock Exchange-listed company.
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