Alibaba Injects Online-Pharmacy Business Into Hong Kong Unit In $2.5 Billion Deal

April 15, 2015 2:34 AM

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Chinese e-commerce titan Alibaba Group Holding will inject its online-pharmacy business into the company’s Hong Kong-listed healthcare arm in a HK $ 19.4 billion deal($ 2.5 billion), as the group seeks new opportunities in China’s fast growing healthcare sector.

Alibaba Health Information Technology will issue shares and convertible bonds to acquire an online transaction platform for web pharmacies on Tmall, Alibaba’s business-to-consumer website. Alibaba Group will own almost 56% of Alibaba Health when the bonds are fully converted, it said in a statement ...

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