Private equity firm DCP Capital has agreed to acquire Alibaba’s majority stake in Sun Art, which operates the RT-Mart chain and the Costco-like M-Club membership stores across China.
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 ...
Alibaba Group has agreed to sell its shares in a Chinese hypermarket operator in a $1.7 billion deal, the latest divestment as part of the company’s efforts to focus on its core e-commerce business.
Alibaba Group Holding agreed to sell its entire stake in Sun Art Retail Group, China's largest hypermarket operator, for HK$13.1 billion (US$1.7 billion), as the e-commerce giant scales back its ...