Alibaba Sells Sun Art Stake to DCP for $1.6 Billion After $3.6 Billion Investment for Over 70% Ownership

Jan 1, 2025, 12:15 PM

Alibaba Group Holding Ltd. has announced its decision to sell its stake in Sun Art Retail Group to private equity firm DCP for $1.6 billion. This transaction follows Alibaba's previous investment of approximately $3.6 billion in 2020, which increased its ownership in Sun Art to over 70%. The move is part of Alibaba's strategy to refocus on its core online business amid a shifting retail landscape in China.