Date: 7 months ago   Category: IT & Media

MegaFon, Mail.ru Group and RDIF will receive a controlling stake in AliExpress Russia — Rambler News Service


Photo: Stanislav the Russian Direct Investment Fund (RDIF), Alibaba Group, MegaFon and Mail.Ru Group declared Krasilnikov/TASS during the WEF-2018 creation of joint venture. Within the transaction of Alibaba will transfer a controlling stake to AliExpress to MegaFon, Mail.ru Group and RDIF, it is told in the joint press release of the companies. Within the transaction of Alibaba Group will make business of AliExpress in Russia a part of new joint venture which will include the current local and cross-border operational assets of Alibaba Group in Russia, including business of the international platform of electronic commerce of AliExpress and the Russian B2C of the Tmall platform. In further Alibaba Group will invest money and other resources in the joint venture for maintenance of his activity. RDIF will become the strategic investor of AliExpress Russia, having got the general share in 13% by investments into the capital and acquisitions of an additional share of the joint venture from Alibaba Group. MegaFon within the transaction will sell to Alibaba Group the share in 10% in Mail.Ru Group in exchange for 24% of a share in AliExpress Russia. Mail.Ru Group will transfer to the joint venture the business of electronic commerce of Pandao, money and also distribution in an integration format with Mail.Ru Group products. The share of the company in AliExpress Russia will make 15%. AliExpress Russia and Mail.Ru Group will conclude the agreement on strategic cooperation which means, in addition, exchange of traffic and grocery initiatives, it is said in the statement. Within the joint venture it is planned to expand an ecosystem and possibilities of daily use of service due to investment into other businesses together with Mail.Ru Group, including FoodTech and other directions, it is specified in the message. After completion of transactions within conditions on closing of the transaction and its coordination by all partners in the joint venture, Alibaba Group (48%), MegaFon (24%), Mail.Ru Group (15%) and RDIF (13%) will become owners of AliExpress Russia. It is said in the statement that AliExpress Russia will get access to hundred-million audience of Mail.Ru Group in social networks, messengers, e-mail and online games. Also it is expected that AliExpress Russia will strengthen a global ecosystem of Alibaba Group that will allow to offer consumers the wide range of products of all price categories from Russia, China and other countries of the world. "The joint venture will create ample opportunities for the Russian small and medium business. They will get access to the extensive ecosystem allowing local businessmen to sell goods in the country and abroad. More than 600 million consumers use platforms of Alibaba; thus, the Russian small and medium business will have an access to the market which four times is exceeding population of Russia, and including consumers from China, Southeast Asia, Turkey, Europe, India and other countries", - it is said in the statement.

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