Singapore’s state investment firm Temasek Holdings Pte has picked up a 1.03% stake in China’s Alibaba Group Holdings (BABA) post the latter’s record listing in September, and has also bought a stake in McDonald’s Corp adding the fast food chain to its portfolio, a Bloomberg report said.
The report was based on Temasek’s filings with the U.S. Securities and Exchange Commission and adds that the Singapore investment firm was the largest listed shareholder in Alibaba.
It further adds that Temasek also bought 0.9 million shares in U.S. consumer lender Synchrony Financial, as well as 2.5 million shares in US-based outsourcing company Congizant Technology Solutions Corp.
Temasek’s history with Alibaba extends to its pre-IPO days and the fund had said it had invested $50 million in the Chinese interent giant in 2011, and it was also part of a consortium that bought out $1.6 bilion stock from Alibaba employees, in addition to being among buyers when Alibaba bought back shares from Yahoo! Inc. in 2012 for $7.6 billion and sold them partly to existing shareholders, the Bloomberg report added.
Read the Bloomberg report [here]