1 June, 2018
Skadden is advising ZTO Express (Cayman) Inc. (NYSE: ZTO) in its strategic transaction with Alibaba Group Holding Limited (NYSE: BABA) and its logistic arm Cainiao Network.
Investors led by Alibaba and Cainiao will invest US$ 1.38 billion in ZTO, a leading express delivery company in China and one of the largest express delivery companies globally, in exchange for an approximately 10% equity stake in the company. The transaction is expected to close in early June, subject to customary closing conditions.
The Skadden team was led by partner Julie Gao, and included counsel Yuting Wu and associates Weiwei Chen and Layton Niu.
