None
DE
Alibaba completes full acquisition of Cainiao’s minority shares, implements employee exit plan
['Technode Feed', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar', 'Vertical-Align Middle .Wp-Block-Co-Authors-Plus-Avatar Is .Alignleft .Alignright']
TechNode
Cainiao, Alibaba’s logistics arm, announced Feb. 27 that Alibaba Group has fully acquired the remaining shares held by Cainiao’s minority shareholders.
In addition, the company introduced a comprehensive exit plan for employees’ stock options.
Under the new plan, employee stock options will be converted into long-term cash incentives rather than a one-time buyout.
The buyout price for the options is set at 62 cents per option.
Earlier in March 2024, Alibaba announced the withdrawal of Cainiao’s IPO application in Hong Kong and plans to offer minority shareholders the opportunity to sell their shares at 62 cents per share, with a potential total payout of up to $3.75 billion.
['offer'
'plan'
'shares'
'employee'
'stock'
'alibaba'
'implements'
'incentives'
'technode'
'options'
'longterm'
'cainiaos'
'shareholders'
'exit'
'completes'
'minority']