Alibaba.com (HKSE: 1688.HK) (HK.1688) has entered into a share purchase agreement to acquire China Civilink (Cayman), which operates in China as HiChina Web Solutions, for a total consideration of RMB539.98 million (US$79.06 million) in cash upon completion of two phases.
Alibaba.com<1688>, a leading e-commerce provider in China or China's most well-known B2B e-commerce portal, has allocated RMB 540 million to acquire a majority stake in China Civilink (Cayman), also known as HiChina Web Solutions in China, the Shanghai Daily reported. The acquisition will be...