Freshfields Bruckhaus Deringer and Simpson Thacher & Bartlett have been called up as lead advisers as Chinese e-commerce giant Alibaba Group strikes an agreement to transfer its online pharmacy business to its Hong Kong-listed sister company.
Under the terms of the $2.5bn (£1.7bn) deal, struck yesterday, Alibaba Group will take majority ownership of its digital healthcare sister company, Alibaba Health Information Technology, in exchange for transferring the e-pharmacy operations of its Tmall.com shopping website to Alibaba Health.
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