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Alibaba Invests in Hypermarkets in China

 10/22/2020

Alibaba Groups Holdings will invest $3.6 billion to acquire a controlling stake close to 72 percent in Sun Art Retail Group.  This enterprise operates 481 hypermarkets in China.  The equity to be purchased by Alibaba is currently owned by a company controlled by Auchon Holdings of France.

Expertise in E-commerce and digitalization offered by Alibaba will assist the acquisition in competing with other chains including Walmart.