The Chinese company specialized in e-commerce, Alibabá, reported that it will sell its shares in a hypermarket chain to focus on its “core” business.
The Chinese group Alibaba Holding Ltd announced this Wednesday, January 1, 2025 that agreed to sell its majority shareholding to the hypermarket chain Sun Art Retail Group to the firm DCP Capital for the equivalent of US$1,580 million. The participation of 78.7%
As reported by Reuters, the stake sale comes after an 85% rise in Sun Art shares in Hong Kong over the past year, which easily outpaced a rise of around 20% in the main Hang Seng Index. .
He The e-commerce giant took this step as part of the reorganization of its business portfolio as Alibaba seeks to focus on its core e-commerce operations.
This is more than interesting news for those who are interested in investing in Cedears of the Chinese company since it is expected that this move will have an impact on its shares starting Thursday.
Source: Ambito
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