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Alibaba to Acquire Minority Stake in Focus Media

Hong Kong (July 19, 2018): Chinese e-commerce giant Alibaba Group has agreed to acquire a minority stake in China’s Focus Media Information Technology Co. Ltd. to tap into the digital marketing sector.

According to a statement issued by Alibaba, it will acquire about 6.62 % in Focus Media for 9.63 billion yuan and possibly another 5 % stake in the next 12 months and upon completion of the deal, Alibaba will become Focus Media’s strategic investor.Focus Media was founded in 2003, and its main business is China’s interactive digital media and online advertising sectors.

According to details, Alibaba would also invest $ 511.1 million in an entity controlled by Focus Media’s chairman Jason Jiang.

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