23 04 2016

Alibaba and Ant Financial invest $1.25 Billion in Ele.me

Simpson Thacher is representing Alibaba Group Holding Limited and Ant Financial Services Group in connection with their investments of US$900 million and US$350 million, respectively, in Ele.me, a top online food delivery company in China with a base of 50 million users in 300 Chinese cities.


As part of these investments, Ele.me will assume operation of the online food delivery service business of Koubei.com, an O2O e-commerce joint venture between Alibaba and Ant Financial. Ele.me will continue to operate as an independent company, and Alibaba’s Executive Vice Chairman, Joseph Tsai, will be named to Ele.me’s board.  The Simpson Thacher team working on this deal includes Katie Sudol (Picture), Wei Li and Sonya Ho (M&A); Jackie Kahng and Preeta Paragash (Credit); and Venus Lo and Grace Wong (Hong Kong Corporate). Involved fees earner: Kathryn King Sudol - Simpson Thacher & Bartlett; Wei Li - Simpson Thacher & Bartlett; Sonya Ho - Simpson Thacher & Bartlett; Venus Lo - Simpson Thacher & Bartlett; Grace Wong - Simpson Thacher & Bartlett; Jackie Joohee Kahng - Simpson Thacher & Bartlett; Preeta Paragash - Simpson Thacher & Bartlett;

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