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Alibaba stock was lower Thursday after it announced a $1.7 billion deal to sell Sun Art, a hypermarket operator in China.

Alibaba sold its 73.66% stake in Sun Art to DCP Capital for US$1.6bn, reflecting a shift away from its New Retail strategy. Read why I'm bearish on BABA stock.

Alibaba Group Holding Ltd. has agreed to sell its over 70% stake in Sun Art Retail Group Ltd. to private equity firm DCP ...

Alibaba Group Holding Limited announced the disposal of its shares in Sun Art Retail Group, a move that involves selling approximately 73.66% of Sun Art shares held through its subsidiaries.

The stake was intended to integrate Alibaba’s digital capabilities with Sun Art’s hypermarkets. Alibaba Group has announced ...

Alibaba Group Holding Ltd has agreed to sell its shares in Sun Art Retail Group Ltd to private equity firm DCP Capital, ...

After Alibaba (BABA) announced that it would sell its full 78.7% equity interest in Sun Art to DCP Capital for gross proceeds of about $1.5B, ...

Alibaba (BABA) has agreed to sell its stake in Sun Art Retail to private equity firm DCP for about $1.6B, after paying roughly $3.6B in 2020 to ...

After disposing of Sun Art and Intime, an ‘asset-light’ Alibaba is expected to be in a better position to compete against ...

ALBAWABA – Alibaba, the Chinese multinational technology company specializing in e-commerce, retail, Internet, and technology, announced selling its shares in Sun Art, a leading retailer with ...