Chinese e-commerce giant Alibaba Group Holdings holds a 6.1% stake in Dufry AG, Switzerland's duty-free or duty-free retail company. As part of an estimated $ 900 million in capital raising.
Reports indicate that Alibaba and Dufry revealed joker gaming download plans to form a joint venture earlier this month. To focus on business development in China Alibaba Group will invest 69.5 million Swiss francs in Dufry via convertible bonds.
In addition, the groups that invest in Dufry include: Private conglomerate Advent International Corp., which will have an 11.4 percent stake in Dufry after the capital increase is completed.
Dufry expects the company to raise a capital of CHF 820 million, or $ 901.1 million, after setting a new share price of 33.22 Swiss francs per share.