Simpson Thacher & Bartlett and Freshfields Bruckhaus Deringer are leading the $2.5 billion sale of Alibaba Group Holding Ltd.’s online pharmacy to its Hong Kong-listed healthcare subsidiary.
Alibaba Health Information Technology Ltd. is offering a combination of equity and debt to purchase Beijing Chuanyun Logistics Investment Ltd., which sells over-the-counter medicine and related products on Alibaba Group’s Amazon.com-like Tmall ecommerce site. The increased equity will give Alibaba Group a 55 percent share of Alibaba Health, up from 38 percent, once the deal is completed in the third quarter.
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