Alibaba Group has agreed to sell its shares in Sun Art Retail in a $1.7 billion deal, the latest divestment as part of efforts to focus on its core e-commerce business.

The deal between Alibaba and Chinese private-equity firm DCP Capital was reached on the last day of 2024, involving the disposal of the Hangzhou-based company’s interest in Sun Art at HK$1.75 per share,

BEIJING (Reuters) -- China's Alibaba Group Holding said on Wednesday it had agreed to sell its majority stake in hypermarket chain Sun Art Retail Group to Chinese private equity firm DCP Capital for HK$12.298 billion ($1.58 billion).

China's Alibaba Group Holding Ltd said on Wednesday it had agreed to sell its majority stake in hypermarket chain Sun Art Retail Group to Chinese private equity firm DCP Capital for HK$12.298 billion ($1.

ALIBABA Group Holding agreed to sell its shares in Sun Art Retail Group to private equity firm DCP Capital, unloading another high-profile physical commerce asset at a discount to focus on its core online business.

China’s Alibaba Group Holding Ltd said on Wednesday it had agreed to sell its majority stake in hypermarket chain Sun Art Retail Group to Chinese private equity firm DCP Capital for HK$12.298 billion ($1.