Alibaba Group to receive 33% equity interest in Ant Financial.

Alibaba Group has received a newly-issued 33% equity interest in Ant Financial, the world's most valuable unicorn company, following the satisfaction of the closing conditions set forth in the 2014 transaction agreements and the relevant amendments to those agreements. Financial terms were not disclosed. Upon closing of the issuance, the profit-sharing arrangement under which Ant Financial previously paid fees amounting to 37.5% of its pre-tax profits to Alibaba Group was terminated.