Alibaba to sell majority stake in Sun Art hypermarkets

Alibaba To Sell Chinese Hypermarket Operator As It Focuses On Core Business
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.
China E-Commerce Giant Alibaba Sells Stake In Retail Firm Sun Art To Focus On Core Business
Alibaba stock was lower Thursday after it announced a $1.7 billion deal to sell Sun Art, a hypermarket operator in China.
Alibaba to sell majority stake in Sun Art hypermarkets for $1.58bn
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Alibaba to sell Sun Art to buy out firm at a discount
Alibaba Group Holding Ltd has 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 to sell Sun Art stake to Chinese PE firm DCP for $1.6bn
BEIJING (Reuters) -- China's Alibaba Group Holding 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 ($1.58 billion).
Alibaba Sells $1.6 Billion Stake in Sun Art Retail Group as It Shifts Focus
Alibaba sells its 78.7% stake in Sun Art Retail for $1.6 billion, focusing on core e-commerce amid rising competition.
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