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Alibaba to Buy Controlling Stake in Hypermarket Chain Sun Art in $3.6 Billion Deal

17 hours ago Parul Singhal 1
Alibaba Group Holdings said on Monday (19th October 19, 2020) that it will invest $3.6 billion to boost its stake in hypermarket operator Sun Art Retail Group Ltd to gain further ground in China’s booming retail market. Alibaba, which already owned 21% of Sun Art through a unit, will raise its stake to around 72% through the acquisition of...

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