USM Holdings, which is controlled by Alisher Usmanov and his business partners, has entirely divested its stake in Chinese Alibaba.
DST Global, a fund controlled by Usmanov and Yury Milner, Silver Lake and Chinese fund Yunfeng Capital led a consortium that invested $1.6 billion in Alibaba in 2011. The deal was structure as an acquisition of shares from Alibaba employees and co-owners under an offer. The stake they acquired was estimated at the time at less than 5% of the company, which had a total value of $32 billion. Late in 2015, Usmanov said a portion of the Alibaba stake was sold. “We withdrew from this company at a fairly high level. It was worth $250 billion,” he said, estimating the return on his investment at 500%-600%.
Usmanov sells off entire Alibaba stake, retains small stake in AppleRead More