Posted inChina, Hong Kong

Alibaba nets US $2.9B share of Sun Art Retail hypermarket

Alibaba has agreed to pay HK$22.4 billion (US$2.9 billion) to acquire a 36.16% stake in Hong Kong-listed Sun Art Retail Group, which runs 446 Auchan Retail and RT-Marts, one of the biggest hypermarket chains in China, Caixin reported. According to the announcement, Taobao China will directly hold 26.02% of the stake. The remaining 10.14% will […]

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