Alibaba Group and white-goods and electronics manufacturer Haier Group announced this week that the two companies have formed a strategic partnership. They will jointly offer online sales and delivery of household appliances in China.
Under the terms of the deal, Alibaba Group will also invest US$364 million in Haier Electronics. Of that amount, US$240 million will be invested into one of Haier’s logistics-focused subsidiaries. Alibaba will also acquire a 2% stake in Haier Electronics.
Source: Business Strategies Group Hong Kong – www.bsgasia.com