June 8, 2018 / 5:17 PM / a year ago

CPPIB to invest $600 million in Ant Financial's unit

FILE PHOTO: Employees are seen at the reception desk of Ant Financial Services Group, Alibaba's financial affiliate, at its headquarters in Hangzhou, Zhejiang province, China January 24, 2018. REUTERS/Shu Zhang

(Reuters) - Canada Pension Plan Investment Board said on Friday it will invest $600 million in a unit of Jack Ma’s Ant Financial Services Group, operator of China’s biggest online payment platform.

CPPIB’s investment is part of Ant’s $14 billion fundraising announced on Friday.

Ant Financial, spun off from Alibaba Group Holding Ltd (BABA.N) before the e-commerce firm’s 2014 listing, has played a major role in shaping China’s financial technology landscape.

Reporting by Parikshit Mishra in Bengaluru; Editing by Shailesh Kuber

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below