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Location: Home > News > Latest News > Youku Tudou Inc. Announces Completion of Privatization and Becomes Alibaba’s Wholly Owned Subsidiary

Youku Tudou Inc. Announces Completion of Privatization and Becomes Alibaba’s Wholly Owned Subsidiary

By , PEdaily.cn
Updated: 2016-04-06 14:40:45

According to news from PEdaily.cn on April 6,Zhang Yong (nickname: Xiaoyaozi), CEO of Alibaba Group, announced in his letterto all the Alibaba employees the completion of acquisition on Youku Tudou Inc.according to the plan announced on November 6, 2015. Youku Tudou has been officiallyincorporated into Alibaba with its over 3,300 employees.

 

PEdaily.cn found that, Youku Tudou Inc. had appliedto close its ADS trading on NYSE, achieved privatization at the price ofUS$27.6 per ADS and become a wholly owned subsidiary of Alibaba Group.

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