Following reports in February, Alibaba has confirmed it will acquire the remaining shares in Ele.me, currently owned by investors such as JD.com, Tencent and Baidu.
E-commerce group Alibaba confirmed on Sunday it will wholly acquire Ele.me, a China-based food delivery service in which the corporate already owns stock, valuing the business at $9.5bn.
The deal was first reported in February and will include Alibaba purchasing the shares of Ele.me’s current stakeholders, which include internet groups Tencent and Baidu and e-commerce firm JD.com.
Alibaba and its financial services affiliate Ant Financial already own approximately 43% in Ele.me between them.
Ele.me operates a food delivery service…
