The 79% stake being sold is held by Alibaba subsidiaries, according to a filing with the Hong Kong Stock Exchange. According to Bloomberg, the $1.6 billion will mark a $1.8 billion loss from when Alibaba doubled its stake in Sun Art for over $3 billion in 2020, a deal in which it was also legally represented by Fangda and Slaughter and May.

Last December, Alibaba sold its Intime department store, which has been in deficit, to Chinese clothing manufacturer Youngor for approximately $1 billion. It is estimated that this sale would have resulted in a loss of around 9.3 billion yuan (about $1.3 ...

Alibaba, the Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology, announced selling its sha

The deal between Alibaba and Chinese private-equity firm DCP Capital was reached on the last day of 2024, involving the disposal of the Hangzhou-based company’s interest in Sun Art at HK$1.75 per share,

Alibaba Group Holding Ltd. agreed to sell its shares in Sun Art Retail Group Ltd. to private equity firm DCP Capital, unloading another high-profile physical commerce asset at a discount to focus on its core online business.

Alibaba announces the sale of its 78.7% stake in Sun Art Retail, marking a key step in its strategic shift to refocus on e-commerce and cloud services.

Chinese e-commerce giant Alibaba announced plans to sell its 78.7% stake in hypermarket chain Sun Art Retail Group.

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China's Alibaba Group Holding Ltd said on Wednesday it had agreed to sell its majority stake in hypermarket chain Sun Art Retail Group to Chinese private equity firm DCP Capital for HK$12.298 billion ($1.