Alibaba Group Holding Limited announced that it will sell its 73.66% stake in SUNART RETAIL. According to the purchase agreement, the buyer, Paragon Shine Limited, conditionally agreed to buy 7,027,297,350 shares of SUNART RETAIL held by Alibaba's subsidiary at a price of HKD 1.55 per share. After the transaction is completed, Alibaba will no longer hold any equity in SUNART RETAIL.The transaction price includes an initial payment and a second payment. The initial payment is HKD 0.92 per share and will be paid at the time of delivery. The second payment is HKD 0.46 per share and will be paid on or before June 30, 2028, with interest. If the adjusted average EBITDA of SUNART RETAIL for the 2027/2028 fiscal year reaches or exceeds the upper...Show More

Alibaba Group Holding Limited announced that it will sell its 73.66% stake in SUNART RETAIL. According to the purchase agreement, the buyer, Paragon Shine Limited, conditionally agreed to buy 7,027,297,350 shares of SUNART RETAIL held by Alibaba's subsidiary at a price of HKD 1.55 per share. After the transaction is completed, Alibaba will no longer hold any equity in SUNART RETAIL.The transaction price includes an initial payment and a second payment. The initial payment is HKD 0.92 per share and will be paid at the time of delivery. The second payment is HKD 0.46 per share and will be paid on or before June 30, 2028, with interest. If the adjusted average EBITDA of SUNART RETAIL for the 2027/2028 fiscal year reaches or exceeds the upper limit, Alibaba may receive up to HKD 1.75 per share (including interest and interim dividends), totaling approximately HKD 13.138 billion.Alibaba stated that this sale is a good opportunity to monetize non-core assets, and the proceeds will be used for core business development, enhancing Shareholder returns, and general corporate purposes. After the transaction is completed, it is expected to result in approximately RMB 13.177 billion in Shareholder losses. This transaction is also subject to several conditions, including approval from the State Administration for Market Regulation.