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Business deals

China's injects $100m into brick-and-mortar retailer Gome

Deal with appliance chain sets up rival to Alibaba-Suning alliance

Gome Retail Holdings operates 2,600 outlets across China.   © Reuters

DALIAN, China -- will spend $100 million to back appliance store operator Gome Retail Holdings, a move that will expand the brick-and-mortar presence of China's second-largest etailer.

The recently announced strategic tie-up has purchasing convertible bonds that could translate to a 2.8% stake in Gome. The date of the transfer has yet to be set.

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