engine - 3:51 pm on Sep 18, 2012 (gmt 0)

Yahoo has closed the multi-billion-dollar sale of half its assets in China’s Alibaba Group. Alibaba said Tuesday that it has completed the initial repurchase of shares from Yahoo! and restructured its relationship with the Silicon Valley company in a deal valued at $7.6 billion. Yahoo And Alibaba Close $7.6 Billion Assets Deal [allthingsd.com]

After taxes the deal will net Yahoo around $4.5 billion – a nice return on the $1 billion Jerry Yang put into Alibaba seven years ago.