19 August 2019

Tencent to buy 15% stake in for US$215 mln, filing says

Tencent Holdings (00700.HK) will purchase 15 percent stake in Chinese e-commerce site for US$214.66 million, according to a regulatory filing Monday. Under the deal, Tencent also agreed to buy a further 5 percent stake in after the latter completes an initial public offering. As part of the cooperation agreement, will acquire Tencent’s business-to-customer (B2C) platform QQ Wanggou and the Pai Pai customer-to-customer (C2C) marketplace businesses, as well as a minority stake in Yixun. Tencent will help boost JD’s exposure to consumers through QQ and WeChat platforms, among others, and the two sides will strengthen cooperation in online payments, according to the filing.

– Contact HKEJ at [email protected]



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