STO Express to acquire Alibaba-backed logistics firm DanNiao for RMB 362 million · TechNode

STO Express to acquire Alibaba-backed logistics firm DanNiao for RMB 362 million · TechNode

STO Express announced plans to acquire 100% of DanNiao Logistics, a unit under Alibaba’s Cainiao, for RMB 362 million ($50 million) in cash, according to a company filing on July 25. The transaction, classified as a related-party deal, does not constitute a major asset restructuring and does not require shareholder approval. DanNiao provides premium last-mile and reverse logistics services for platforms like Tmall and Taobao, operating 59 sortin…