By Mark Baber
June 6 – Hangzhou-based e-commerce giant Alibaba Group Holding Ltd announced Thursday that it is taking a 50% stake in Guangzhou Evergrande for 1.2 billion yuan ($192 million). The valuation of $284 million would put Evergrande into 20th place in the latest (2013) Forbes List of the World’s Most Valuable Clubs.
Alibaba deal catapults Guangzhou Evergrande into elite of world’s most valuable clubs
