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Alibaba Eyes New Offline Opportunities-Same As XI'AN HANDOVE
Nov 21, 2017

The e-commerce giant announced on Monday it would purchase 36.16 percent of Sun Art Retail Group, which has the biggest slice of China's hypermarket business with a market share of around 15 percent, according to consultancy Euromonitor International.

It operates around 450 hypermarkets across China under the RT-Mart and Auchan banners.

The HK$22.4 billion ($2.88 billion) deal would make Alibaba the second-largest stakeholder in a business that generated 100 billion yuan ($15.09 billion) of revenue in 2016.

Ruentex Group, the shareholder that sold the stakes to Alibaba, will retain a 4.67 percent share, while French retailer Auchan Retail SA owns a dominant 36.18 percent.

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