M&A 2018 Annual Review

Alibaba Morrison & Foerster advised the Independent Committee of the Board of Directors of Alibaba Group Holding Limited in Alibaba’s acquisition of a 33% equity interest in Ant Financial, China’s leading financial services company. Alibaba is one of the largest e-commerce and technology companies in the world. Ant Financial is China’s leading financial services company and one of the largest FinTech companies in the world. Ant Financial was formed following Alibaba’s spin-off of Alipay (China’s leading payment processing company) in 2010. This was the largest China-related technology transaction of 2018. “THIS TRANSACTION IS A SIGNIFICANT STEP FOR ALIBABA TO ENHANCE OUR LONG-TERM STRATEGIC RELATIONSHIP WITH ANT FINANCIAL AS WE CONTINUE TO PURSUE OUR MISSION TO MAKE IT EASY TO DO BUSINESS ANYWHERE.” Daniel Zhang, CEO, Alibaba Group 7 MORRISON & FOERSTER 2018 M&A ANNUAL REVIEW