Global private equity and venture capital news and research

Temasek could back Yahoo sale of Alibaba stake back to company

21 May 2012

Singaporean state investor Temasek Holdings is believed to be stumping up part of the $2.3bn its portfolio company Alibaba Group has agreed for half of Yahoo’s stake in the business.

The Chinese internet company was bought by Temasek from its employees last September in a tender offer alongside DST Global, Silver Lake and Yunfeng Capital.

Entrepreneur and Alibaba founder Jack Ma will buy back up to half of a 40 per cent stake in the company from Yahoo for $7.1bn.

The deal will value Alibaba at about $35bn and provide Yahoo with much-needed cash to perform a share buy-back and rescue its falling share price.

Yahoo interim chief executive Ross Levinsohn said, “Today’s agreement provides clarity for our shareholders on a substantial component of Yahoo’s value and reaffirms the significant of our relationship with Alibaba.”

Sovereign wealth fund Temasek agreed to a $468m co-investment in Houston-based energy company Cheniere Energy earlier this month alongside private equity firm RRJ Capital.

The investor owns a portfolio of about $151bn as of the end of March 2011 concentrated principally in Singapore, Asia and other growth markets.

Copyright © 2012 AltAssets

Leave a Reply

You must be logged in to post a comment.

Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: WeWork 4001, 1 Fore Street, London, EC2Y 5EJ
Content is © AltAssets 2000-2016