Alibaba Group Holding Ltd - ADR

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Equity Investments, Mergers / Acquisitions

Alibaba Group Says Agreed To Acquire Controlling Stake In Sun Art

Published: 10/19/2020 00:17 GMT
Alibaba Group Holding Ltd (BABA) - Alibaba Agreed to Acquire Controlling Stake in Sun Art.
To Invest a Total of Approximately Hk$28.0 Billion (us$3.6 Billion) to Acquire 70.94% of Equity Interest in A-rt Retail Holdings.
A-rt Retail Holds Approximately 51% of Equity Interest in Sun Art Retail Group.
Taobao China May Pay Up to Additional Amount of About Hk$17.0 Billion to Acquire Sun Art's Shares Held by Other Shareholders.
Following Purchase, Co Will Hold About 72% Stake in Sun Art, and Alibaba Will Consolidate Sun Art in Its Financial Statements.
After Completion, Taobao China May Make Unconditional General Offer in Cash for All of Sun Art's Issued Shares at Hk$8.10/share.