Home / Knowledge / News / Apparel/Garments / Chinese apparel co Dalian Dayang to buy YTO Express
Chinese apparel co Dalian Dayang to buy YTO Express
25
Mar '16
Courtesy: Dayang Trands
Courtesy: Dayang Trands
Chinese clothing maker Dalian Dayang Trands Co Ltd has agreed to buy Alibaba-backed courier company YTO Express for 17.5 billion yuan ($2.7 billion).

Dayang Trands said in an exchange filing on March 22 that it would buy YTO Express through an asset swap and share issue, resulting in a backdoor listing on the Shanghai bourse for the courier company, according to a Reuters report.

"The company hopes to enter the courier sector by injecting good-quality assets in the delivery business via this transaction," Dayang Trands said in the filing.

The asset swap will involve Dayang Trands transferring its assets to YTO Express' shareholders. As a result of the transaction, the shareholders will ultimately own Dayang Trands.

China's mostly privately held express delivery firms are eyeing mergers and listings to help cope with cut-throat competition and growing investment demands amid the country's e-commerce boom, led by giant Alibaba Group Holding Ltd .

The express delivery sector grew around 50 per cent each year between 2010 and 2014, and handled 14 billion parcels last year, data from the State Post Bureau showed.

In May last year, Alibaba Group and Yunfeng Capital, a fund backed by Alibaba's founder Jack Ma, announced a strategic investment in YTO Express.

In December, Chinese delivery firm Shentong (STO) Express closed a 16.9 billion yuan reverse takeover deal with a Shenzhen-traded valve maker, a fast track way of becoming the first major express parcel service to be publicly listed, the report said. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search