Alibaba and Cainiao Make Strategic Investment in ZTO Express

HANGZHOU, China, May 29, 2018 /PRNewswire/ -- Alibaba Group Holding Limited ( BABA) ("Alibaba") and its logistic arm Cainiao Network ("Cainiao"), and ZTO Express (Cayman) Inc. ( ZTO) ("ZTO"), a leading and fast-growing express delivery company in China, today announced a strategic agreement in which investors led by Alibaba and Cainiao will invest US$1.

38 billion in ZTO in exchange for an approximately 10% equity stake in the company. The transaction is expected to close in early June, subject to customary closing conditions.