Slaughter and May advised Alibaba on its cornerstone investment in Fosun Tourism

Slaughter and May, Hong Kong, advised Alibaba Group Holding Limited (Alibaba) on its cornerstone investment, through its indirect wholly-owned subsidiary Taobao China Holding Limited (Taobao), in the initial public offering and listing on the Main Board of the Hong Kong Stock Exchange of Fosun Tourism Group (FTG). Listing and trading on the Hong Kong Stock Exchange commenced on 14 December 2018.

Taobao is a company incorporated in Hong Kong with limited liability and is the holding company of certain subsidiaries relating to Taobao Marketplace. Alibaba is a company incorporated in the Cayman Islands and its American depositary shares are listed on the New York Stock Exchange.

FTG is one of the world’s leading leisure-focused integrated tourism groups, and is, according to Frost & Sullivan, the largest leisure tourism resorts group worldwide in terms of revenue in 2017.