Alibaba Group will spend $3.6 billion to take control of Chinese supermarket giant Sun Art

Alibaba Group said today it will spend about $3.6 billion to take a controlling stake in Sun Art, one of China’s largest big-box and supermarket chains. After the transaction is complete, Alibaba Group will own 72% of Sun Art. As in other countries, COVID-19 lockdowns increased demand for online food orders in China, drawing in […]
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