Employees and shareholders of Alibaba Group will be given an option to cash out part of their stock in the Chinese e-commerce group through a $1.6 billion private equity deal, Financial Times reports. DST Global of Russia and California-based Silver Lake are seeking to acquire less than 5 percent stake for nearly $1.6 billion.
The deal will value the Internet group at $32 billion. Yunfeng Capital and Singapore investment fund Temasek Holdings are also participating in the transaction. The deal will effectively push back the prospects for an initial public offering of Alibaba.