Chinese e-commerce company Alibaba Group Holding has announced the completion of its initial US$7.6 billion share repurchase from Yahoo!. Yahoo! received US$6.3 billion in cash, US$800 million worth of preferential shares in Alibaba and US$550 million in connection with the amendment to their intellectual property and technology agreement in exchange for 20 percent of Alibaba’s shares, representing half of Alibaba’s total stake. Alibaba financed the transaction using debt from eight international banks and China Development Bank, while subscribers to the new shares included China Insurance Corporation (CIC) and Chinese private equity firms CITIC Capital, Boyu Capital and CDB Capital, as well as existing shareholders Silver Lake, DST Global and Temasek.