Cainiao Supply Chain acquires approximately 25% of the shares of A-share listed company STO Express from De'e Industrial
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Fangda Partners represented Alibaba Group in its internal transfer of approximately 25% of the shares of STO Express Co., Ltd. (“STO Express”, stock code: 002468.SZ). The transferee, Zhejiang Cainiao Supply Chain Management Co., Ltd. (“Cainiao Supply Chain”), and the transferor, Shanghai De’e Industrial Development Co., Ltd. (“De’e Industrial”), are both entities within Alibaba Group. The transfer of STO Express shares was conducted between different entities under control by Alibaba Group, with the transfer price of approximately RMB3.878 billion. This transaction was announced on June 6, 2023 and completed on August 31, 2023.
Fangda fully involved in this deal, including drafting transaction documents, preparing information disclosure documents, preparing application documents for the stock exchange’s approval and the CSDC’s share transfer registration, as well as conducting research on key legal issues and assisting the client to communicate with the stock exchange. Fangda team on this deal was led by partner Leo Lou, and core team members include Shuwen Hu, Chris Peng, Yuan Cao, Ruochen Li and Josie Zheng. Partner Guanbing Chen, counsel Yongqi Tao and counsel Renjie Zhou provided support in this deal.
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