Singapore Post and Alibaba Group has announced three initiatives to strengthen cooperation and build a leading e-commerce logistics platform to service Asia Pacific and beyond.
Alibaba Group will purchase 107.6 million new ordinary shares amounting to 5% of the existing share capital of SingPost for $187.1 million.
Upon completion, Alibaba’s deemed interest on a fully diluted basis in SingPost will rise from 10.23% to 14.51%.
Alibaba Group acquired its initial stake in SingPost in 2014.
Alibaba's acquisition of additional equity in SingPost is subject to approval from Info-Communications Development Authority of Singapore (IDA) and SingPost’s shareholders
In the second initiative, Alibaba will invest up to $92 million in QSI for a 34% stake in Quantium Solutions International (QSI).
QSI is currently a wholly owned subsidiary of SingPost providing leading end-to-end e-commerce logistics and fulfilment services across the Asia Pacific region.
SingPost will hold the remaining 66% of the equity of QSI.
QSI will reorganise its business and become the joint venture vehicle of SingPost and Alibaba Group.
In addition, QSI will also become a platform for both parties to strengthen their collaboration and realise synergies across their businesses.
In the third initiative, SingPost and Alibaba have also entered into a joint strategic business development framework to further improve efficiency and integration of e-commerce logistics solutions.
SingPost and Alibaba will share their respective knowledge and leverage each other’s strengths to scale across the e-commerce logistics value chain.
A joint steering committee will also be created and drawn from their respective executives.
SingPost closed unchanged at $1.89 yesterday.
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Alibaba Group will purchase 107.6 million new ordinary shares amounting to 5% of the existing share capital of SingPost for $187.1 million.
Upon completion, Alibaba’s deemed interest on a fully diluted basis in SingPost will rise from 10.23% to 14.51%.
Alibaba Group acquired its initial stake in SingPost in 2014.
Alibaba's acquisition of additional equity in SingPost is subject to approval from Info-Communications Development Authority of Singapore (IDA) and SingPost’s shareholders
In the second initiative, Alibaba will invest up to $92 million in QSI for a 34% stake in Quantium Solutions International (QSI).
QSI is currently a wholly owned subsidiary of SingPost providing leading end-to-end e-commerce logistics and fulfilment services across the Asia Pacific region.
SingPost will hold the remaining 66% of the equity of QSI.
QSI will reorganise its business and become the joint venture vehicle of SingPost and Alibaba Group.
In addition, QSI will also become a platform for both parties to strengthen their collaboration and realise synergies across their businesses.
In the third initiative, SingPost and Alibaba have also entered into a joint strategic business development framework to further improve efficiency and integration of e-commerce logistics solutions.
SingPost and Alibaba will share their respective knowledge and leverage each other’s strengths to scale across the e-commerce logistics value chain.
A joint steering committee will also be created and drawn from their respective executives.
SingPost closed unchanged at $1.89 yesterday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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