Alibaba ( (BABA) ) has provided an announcement.
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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. This transaction allows the purchaser to acquire a significant stake, potentially leading to mandatory general offers for Sun Art’s remaining shares. The deal, valued at HK$11,637 million, is structured with deferred payments and interest contingent on future financial performance, highlighting Alibaba’s strategic shift in its retail investments.
More about Alibaba
Average Trading Volume: 16,540,544
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $202B
For an in-depth examination of BABA stock, go to TipRanks’ Stock Analysis page.
