Alibaba: Russia’s “JV Ali Express” deployment-EC is the largest in Europe
June 12, 2019
China’s largest joint venture in Europe, Russia, will create the largest e-commerce (EC) operator in Europe.
Chinese eCommerce: Alibaba
Russian government fund (RDIF),
Russian private communications giant Megaphone,
With major mail Lou group etc
On June 5, the company announced that it has received the approval of the Russian Federation anti-monopoly office on the establishment of “JV Alｉ Express Russia”.
JV: Equity ratio and voting rights
a. Alibaba: Implements $ 100 million investment, “Alｉ Express” EC and cross-border EC business for Russia.
b. Megafone: Sold 9.97% of Mail Lou Group shares owned by Alibaba. Acquire 24.3% of JV shares.
c. Mail Lou Group: Provides “Pandao” to JV. Received $ 182 million. The stake in JV is 15.0%.
RDIF:
Invested $ 100 million in JV.
Purchased JV’s stock options for $ 194 million from Alibaba Group.
After exercising the option, JV’s investment ratio expanded from 5.0% to 12.9%.
-JETRO
https://www.jetro.go.jp/biznews/2019/06/24c3a540b95699fe.html