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  –