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Alibaba To Invest $305M In Zhejiang Supermarket Chain Sanjiang Shopping
Aggregated Source: China Money Network
sanjiangAlibaba Group Holding Ltd. plans to invest RMB2.1 billion (US$305 million) in Zhejiang province-based supermarket chain Sanjiang Shopping Club Co., Ltd., as the Chinese e-commerce giant moves to pursue a "new retail" model envisioned by founder Jack Ma. Alibaba will obtain as much as 35% of Sanjiang via private share placement, share transfer and convertible […]

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