MoFo News Item

MoFo Represents Walmart in eCommerce Alliance with

21 Jun 2016

A cross-office team of MoFo attorneys represented Wal-Mart Stores, Inc. and its Global eCommerce division in the formation of a strategic alliance with, China’s largest e-commerce company by revenue. The transaction included Walmart’s acquisition of approximately 5 percent of total shares outstanding of, worth approximately $1.5 billion, and the transfer to of assets used to operate, Walmart’s Shanghai-based B2C online marketplace. Also included in the deal are commercial arrangements to put Walmart on the offline-to-online (O2O) platform operated by a joint venture between and Dada Nexus, China’s largest crowdsourcing delivery platform, and Sam’s Club opening a flagship store on, vastly expanding the availability of Sam's Club's high-quality imported products across China. The transaction signed and closed, and was publicly announced, on June 20.

MoFo has assisted Walmart in its relationship with Yihaodian since 2011, beginning with Walmart’s acquisition of a majority equity interest in the Newheight Group, the operator of Yihaodian. MoFo also guided Walmart through two reorganizations of the Newheight Group in 2012 and 2013, and in 2015 assisted Walmart in its acquisition of the remainder of the outstanding minority interests in the Newheight Group.

Chuck Comey, Chuan Sun, Mike Krigbaum, and Catherine Rong led the deal team, which included Jae Yoo, Evelyn Jin, Wei Zhang, Shannon Sibold, and Jim Ryan (corporate); Paul Jahn and Can Cui (TTG); Jeff Jaeckel (antitrust); Bernie Pistillo and Matthew Lau (tax); and Scott Lesmes (securities). A number of additional partners, associates and other MoFo team members in the Palo Alto, San Francisco, Washington D.C., Shanghai, Beijing, and Hong Kong offices also provided helpful support on the transaction, including critical administrative support in Beijing and Shanghai from Liyan Chen, Xuehua Wu, and Michelle Hu.

Walmart’s press release can be viewed at:



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