Alibaba Focuses on Digital Commerce with Sale of Sun Art and New South Korea Joint Venture
Retail TouchPoints
JANUARY 2, 2025
Seeking to focus more on ecommerce and other digital businesses, Alibaba Group plans to sell its more than 70% stake in Sun Art, operator of RT-Mart and M-Club stores in China, for $1.6 billion , according to Forbes. Alibaba plans to sell its stake to private equity firm DCP Capital even though the asset disposal will lead to a $1.8
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