BEIJING Alibaba Group Holding Ltd said Monday it will invest 28.3 billion yuan ($4.56 billion) in Suning Commerce Group Co Ltd, clinching a cross-investment deal that allies China's leading e-commerce player with one of the country's largest brick-and-mortar retail chains.
The deal will make Alibaba Suning's second-largest shareholder with a 19.99 percent stake, while Suning would invest 14 billion yuan ($2.25 billion) to acquire a 1.1 percent stake in Alibaba.
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