Alibaba deal catapults Guangzhou Evergrande into elite of world’s most valuable clubs

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.