China’s e-commerce sector has entered a period of fierce competition as market leaders attempt to expand their presence, observed legal counsel involved in two recent deals.
Tencent Holdings agreed in March to set up a strategic business partnership with JD.com, a leading online retail site in China. Tencent will pay about US$215 million to buy a 15% stake in JD, and will also subscribe for an additional 5% after JD’s planned IPO in the US.
That deal came after Vipshop Holdings, China’s leading online discount retailer for brands, in February paid US$132.5 million to acquire a 75% stake in Lefeng.com, an online retailer of cosmetics and fashion products in China.
You must be a
subscribersubscribersubscribersubscriber
to read this content, please
subscribesubscribesubscribesubscribe
today.
For group subscribers, please click here to access.
Interested in group subscription? Please contact us.