Singapore Post Mutually Agreed Unwinding Of Cross-Holdings With Alibaba

Reuters

04-16

April 16 (Reuters) - Singapore Post Ltd ::
*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;))

((Reuters Investor Briefs; email: reutersinvestor.briefs@thomsonreuters.com))
Source Date/Time = 16-APR-202510:05:01.58 GMT

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