Alibaba Group employees and shareholders are set to be given the opportunity to cash out part of their stock in China’s largest ecommerce group by revenues, through a $1.6bn private-equity deal.
DST Global of Russia and California-based Silver Lake are leading a tender offer of almost $1.6bn for slightly less than 5 per cent of Alibaba, valuing the internet group at $32bn, according to people familiar with the deal.
Also participating in the transaction are Yunfeng Capital, which is made up of several Chinese entrepreneurs including Alibaba’s chairman and founder Jack Ma, and in a lesser capacity Temasek, the Singapore investment fund.
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