Alibaba Divests Sun Art in $1.6 Billion Deal with DCP
5 months ago
In a significant strategic shift, Alibaba Group has agreed to sell its stake in Sun Art Retail Group, a major player in the Chinese hypermarket sector, to the investment firm DCP for approximately $1.6 billion. This move is part of Alibaba's broader efforts to streamline its investments and focus on its core e-commerce business amidst increasing competition and regulatory pressures in China.
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