Alibaba to take unit private
By Ding Yining |
February 11, 2012, Saturday
|
Print Edition
Print Edition
ALIBABA Group is said to be close to an agreement to take its Hong Kong-listed B2B e-commerce unit private.
Alibaba Group, China's largest e-commerce company, is also considering using cash as well as debt, including asset swap, to buy back the 40 percent stake Yahoo owns in it, Reuters said yesterday, citing unidentified sources.
Alibaba.com, of which Alibaba Group owns about 73 percent, halted trading in Hong Kong on Thursday pending an announcement regarding a price sensitive transaction involving its parent group.
A spokesperson for Alibaba.com could not be reached for comment yesterday.
Alibaba Group Chairman and Chief Executive Officer Jack Ma is reportedly seeking a loan of US$3 billion from a consortium of six banks, including Deutsche Bank, Credit Suisse and DBS.
Yahoo has a 40 percent stake in Alibaba Group, giving it around 30 percent in the latter's listed unit.
Yahoo has been considering restructuring its Asian assets, including Yahoo Japan and stake in Alibaba Group, for some time.
"It's easy for both parties to decide on the valuation of Alibaba.com and negotiate on its price because it's a listed company," independent industry watcher Hong Bo said.
"If the privatization goes smoothly, it will facilitate the buyback of Yahoo's stake in Alibaba Group," he added.
Alibaba Group, China's largest e-commerce company, is also considering using cash as well as debt, including asset swap, to buy back the 40 percent stake Yahoo owns in it, Reuters said yesterday, citing unidentified sources.
Alibaba.com, of which Alibaba Group owns about 73 percent, halted trading in Hong Kong on Thursday pending an announcement regarding a price sensitive transaction involving its parent group.
A spokesperson for Alibaba.com could not be reached for comment yesterday.
Alibaba Group Chairman and Chief Executive Officer Jack Ma is reportedly seeking a loan of US$3 billion from a consortium of six banks, including Deutsche Bank, Credit Suisse and DBS.
Yahoo has a 40 percent stake in Alibaba Group, giving it around 30 percent in the latter's listed unit.
Yahoo has been considering restructuring its Asian assets, including Yahoo Japan and stake in Alibaba Group, for some time.
"It's easy for both parties to decide on the valuation of Alibaba.com and negotiate on its price because it's a listed company," independent industry watcher Hong Bo said.
"If the privatization goes smoothly, it will facilitate the buyback of Yahoo's stake in Alibaba Group," he added.
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