Alibaba will make a strategic investment in YTO Express, taking a 12% stake in the company for a consideration of RMB6.6 billion (US$988 million).
With the acquisition, Alibaba’s stake in the express delivery company will increase to 22.5%.
Fangda Partners advised Alibaba, and King & Wood Mallesons advised YTO.
Tsingtao Brewery Group has acquired Nestle’s water business in mainland China. The beer maker acquired shares in Nestle Drinking Water (Shanghai), Nestle Natural Mineral Water (Tianjin) and Yunnan Dashan Beverages.
King & Wood Mallesons advised Tsingtao on the deal.