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New Deal


Announced

Alibaba Group Holding Limited acquired 33% equity interest in Ant Financial.

Synopsis

Alibaba Group Holding Limited and Ant Small and Micro Financial Services Group Co. Ltd. announced that pursuant to 2014 transaction agreements, Alibaba will acquire a 33% equity interest in Ant Financial. The parties have agreed to certain amendments to their 2014 transaction agreements to facilitate the transaction. The financial terms of agreement are undisclosed.

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