Market Chatter: Alibaba Considers Sale of Sun Art Hypermarket Chain Stake-March 2024-www.financetom.com

Market Chatter: Alibaba Considers Sale of Sun Art Hypermarket Chain Stake

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Market Chatter: Alibaba Considers Sale of Sun Art Hypermarket Chain Stake

Oct 2, 2024 11:55 PM

07:15 AM EDT, 09/27/2024 (MT Newswires) -- Alibaba Group Holding ( BABA ) is attracting interest from private equity firms seeking to acquire its stake in the Chinese hypermarket chain Sun Art Retail Group, Bloomberg reported Friday, citing people familiar with the matter.

Among the potential buyers are DCP Capital and Hillhouse Investment, which are considering buying some or all of Alibaba's ( BABA ) 79% stake in the retail chain, the Bloomberg report said.

Discussions are preliminary and no sale could take place, Bloomberg reported.

Alibaba ( BABA ) did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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