Alibaba Boosts its Holding in Sun Art Group in a Deal Worth $3.6 Billion

Alibaba Group Holding has increased its stake in Sun Art Retail Group, a Hypermarket chain operator. As by Reuters, the move by Alibaba Group Holding Ltd (HKG: 9988) to increase its investment in the Sun Art Retail Group Ltd (HKG: 6808) comes in a bid to bolster its presence in the Chinese retail market sector. Per the reports, the investment was made directly into A-RT Retail Holders, the retail giant with about 51% controlling stake in Sun Art...