Alibaba Pushes Deeper Into Retail With $2.88 Billion Investment

China e-commerce leader Alibaba (BABA) on Monday said it will invest $2.88 billion for a 36.16% stake in Hong Kong-based Sun Art Retail as part of a strategic alliance to expand opportunities in the nation's food and grocery retailing sector.

XAutoplay: On | OffSun Art Retail operates 446 "hypermarket complexes" in 224 cities across 29 provinces, regions and municipalities in China, under the RT-Mart and Auchan banners. As part of the deal, Alibaba formed a strategic alliance with Auchan...

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