Best Logistics receives $760m funding package

Sep 8, 2016 • Robert Lavine

Fosun and Alibaba-backed logistics firm Cainiao both participated in the funding, reportedly raised as Best Logistics prepares for a public listing.

China-based logistics service provider Best Logistics has raised $760m in a round backed by conglomerate Fosun and logistics firm Cainiao Network, Reuters reported yesterday.

Citic Private Equity, a subsidiary of Chinese government-owned investment holding company Citic Group, led the round, which included investment bank Goldman Sachs, asset management firm CDH Investments and the state-owned China Development Bank.

Founded in 2007, Best Logistics operates a range of services including delivery and warehousing through various subsidiaries and franchises, and owns around 400…

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