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MarketScreener Homepage  >  Equities  >  Nyse  >  Alibaba Group Holding Limited    BABA

ALIBABA GROUP HOLDING LIMITED

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Alibaba : to Pay US$3.6 Billion to Acquire Controlling Stake in Sun Art Retail

10/18/2020 | 09:07pm EST

By Ben Otto

Alibaba Group Holding Ltd. will invest about US$3.6 billion to acquire a controlling stake in hypermarket operator Sun Art Retail Group Ltd., part of the technology giant's efforts to bridge e-commerce operations with physical stores.

Alibaba will make the investment through subsidiary Taobao China Holding Ltd., raising its direct and indirect stake in China-based Sun Art to about 72%, the company said Monday.

Taobao China will also make a mandatory offer for all shares of Sun Art at a price of 8.10 Hong Kong dollars (US$1.05) per share, potentially paying up to an additional US$2.2 billion to acquire all remaining shares, Alibaba said.

The price, at a 2.1% premium to the stock's last-traded price, gives Sun Art a valuation of about HK$77.27 billion, Alibaba added.

"As the Covid-19 pandemic is accelerating the digitalization of consumer lifestyles and enterprise operations, this commitment to Sun Art serves to strengthen our New Retail vision and serve more consumers with a fully integrated experience," Daniel Zhang, Alibaba's chairman and chief executive, said in a statement.

At the end of June, Sun Art operated 481 hypermarkets and three midsize supermarkets in China, Alibaba said.

Write to Ben Otto at ben.otto@wsj.com

(END) Dow Jones Newswires

10-18-20 2106ET

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -0.80% 277.72 Delayed Quote.30.94%
SUN ART RETAIL GROUP LIMITED -1.20% 8.25 End-of-day quote.-12.70%
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Financials
Sales 2021 699 B 107 B 107 B
Net income 2021 150 B 22 807 M 22 807 M
Net cash 2021 434 B 66 144 M 66 144 M
P/E ratio 2021 34,1x
Yield 2021 -
Capitalization 4 942 B 751 B 753 B
EV / Sales 2021 6,45x
EV / Sales 2022 4,81x
Nbr of Employees 122 399
Free-Float 99,7%
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Alibaba Group Holding Limited Technical Analysis Chart | BABA | US01609W1027 | MarketScreener
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Mean consensus BUY
Number of Analysts 51
Average target price 2 270,61 CNY
Last Close Price 1 826,43 CNY
Spread / Highest target 42,7%
Spread / Average Target 24,3%
Spread / Lowest Target -2,35%
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Managers
NameTitle
Yong Zhang Executive Chairman & Chief Executive Officer
John Michael Evans President & Director
Wei Wu CFO, Director & Head-Strategic Investments
Li Cheng Chief Technology Officer
Chung Hsin Tsai Executive Vice Chairman
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