News Update :

Yahoo’s $7.6 Billion Deal with Alibaba Group

Wednesday, September 26, 2012

Yahoo announced that it has closed a $7.6 billion deal that includes selling half its stake in the rapidly growing Chinese company Alibaba Group and with this deal, Yahoo is expected to gain at least $4.2 billion, after taxes. Most of this may be distributed to shareholders.

The details of the complex deal include that Alibaba is paying $7.1 billion to buy back Yahoo’s 20% stake in the company and an additional $550 million to cover revised technology and licensing agreement. Yahoo will retain about 20% stake in Alibaba.

This is the first deal closed by Yahoo, after Google Inc. executive Marissa Mayer took over as CEO of the company.

Source : Alibaba Group 
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