Alibaba set on growth path after divesting offline retailing assets: analysts
- Alibaba Group has agreed to sell its 73.7 per cent stake in Sun Art Retail to DCP Capital at HK$1.75 per share, significantly below the HK$2.48 closing price earlier that day.
- The sale is expected to generate up to $1.7 billion in gross proceeds but will result in a loss of RMB 13.2 billion for Alibaba shareholders.
- This marks Alibaba's second major divestment of brick-and-mortar assets in less than a month, following the sale of Intime Retail Group for $1 billion.
- Alibaba described the sale as an opportunity to monetize non-core assets and redeploy proceeds to focus on developing its core businesses and enhancing shareholder returns.
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