Alibaba To Increase Stake In Sun Art Retail Group By 36.16%
Web titan Alibaba Group Holding Ltd announced that it would soon buy the aggregate direct and indirect Stake of 36.16 percent stake in Chinaâ€™s top hypermarket operator, Sun Art Retail Group Ltd and make the company's total stake HK$22.4 billion ($2.9 billion).
In a joint statement issued by Alibaba and Auchan Retail, who entered a strategic partnership along with Ruentex Group recently. The statement said that Alibaba would buy the stake from Ruentex while Auchan Retail was also incre..
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