Alibaba-led Investors To Invest In ZTO - Quick Facts

(RTTNews) - Alibaba Group Holding Limited (BABA) and its logistic arm Cainiao Network, and ZTO Express (Cayman) Inc. (ZTO) announced a strategic agreement in which investors led by Alibaba and Cainiao will invest $1.38 billion in ZTO in exchange for an approximately 10% equity stake in the company. ZTO is a fast-growing express delivery company in China.

Daniel Zhang, CEO of Alibaba Group and Chairman of Cainiao Network, said: "ZTO has been an important partner to Alibaba Group and Cainiao Network in the development of the new digital economy. The continuing expansion of New Retail is catalyzing new opportunities and demands in logistics. This strategic investment will strengthen synergies across our mutual businesses to create new value and improved experience for merchants and consumers."