Saudi prince leads $400 million investment in 360Buy

Alwaleed bin Talal buys into China’s second-biggest online retailer.

Kingdom Holding, chaired by Saudi Arabia’s Prince Alwaleed bin Talal, is leading a consortium in the acquisition of a $400 million strategic stake in 360Buy Jingdong, China’s biggest online business-to-consumer retailer after Alibaba’s Tmall.

The size of the stake was not disclosed when the Saudi group announced the deal on Friday, but 360Buy was reportedly valued at around $7.25 billion when it last raised financing in November a $400 million round of funding led by...

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