Brief: Singapore Post Mutually Agreed Unwinding Of Cross-Holdings With Alibaba
16/04/2025 11:11
April 16 (Reuters) - Singapore Post Ltd SPOS.SI: MUTUALLY AGREED UNWINDING OF CROSS-HOLDINGS WITH ALIBABA GROUP HOLDING TRANSACTION RESULTS IN EXPECTED CASH INFLOW OF S$55.86 MILLION SINGPOST WILL ACQUIRE FULL OWNERSHIP OF QSI SINGPOST AND ALIBABA WILL MUTUALLY EXERCISE OPTIONS TO UNWIND RESPECTIVE MINORITY CROSS-SHAREHOLDINGS IN 4PX AND QSI CAINIAO WILL ACQUIRE QSI'S 17.61% STAKE IN 4PX FOR ABOUT S$92.75 MILLION SINGPOST WILL PAY ALIBABA S$36.89 MILLION FOR THEIR 34 PER CENT STAKE IN QSI Further company coverage: SPOS.SI ((Reuters.Briefs@thomsonreuters.com;))
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