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Alibaba Group to invest USD 100 mln acquiring logistics companies

Sep. 10, 2012 (China Knowledge) - Alibaba Group, the parent company of China's top online retailer Ltd<1688>, plans to acquire several logistics companies with a total investment of US$100 million within the year.

This is part of effort that the company made to deal with the logistics problems, said Zeng Ming, chief of staff of Alibaba Group, at the company's annual Alifest summit.

At present, the company had acquired three pieces of land in Shanghai, Tianjin and Guangzhou to build large warehousing facilities, and the group aims to set up six to eight regional warehouse centers, Zeng added.

It is expected that the transaction value of Alibaba's and to exceed RMB 1 trillion this year.

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