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 the Ontario Teachers’ Retirement Fund.

After 360Buy announced strong sales growth during 2012, this latest round of financing may value the company slightly higher. Kingdom Group invested $125 million, or roughly a...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222