Alibaba & Cainiao to take minority stake in ZTO

China, 29th May: China’s largest e-commerce company, Alibaba Group and its subsidiary unit, Cainiao, have announced that they have agreed to acquire a 10% stake in ZTO Express, a Chinese express delivery company, for approximately US$1.38 billion.

The deal is expected to officially close in June. Under the terms of the deal, Cainiao and ZTO will collaborate to grow the “New Retail” segment, a retail model that merges online and offline commerce through technology.