Alibaba selling majority stake in Sun Art Retail Group to DCP Capital for $1.6 billion.

From Investing.com: 2025-01-01 07:15:29

China’s Alibaba Group Holding Ltd agrees to sell majority stake in Sun Art Retail Group for $1.58 billion to DCP Capital. Alibaba paid $3.6 billion for controlling stake in 2020. Sun Art’s shares in Hong Kong jumped 85% in the past year. Alibaba also selling its Chinese department store unit Intime. Stake sales part of business portfolio reshuffling. ($1 = 7.7677 HKD)



Read more at Investing.com: China’s Alibaba to sell Sun Art stake to DCP for $1.6 billion By Reuters