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BRIEF-Alibaba Group, Auchan Retail and Ruentex form new retail strategic alliance​
November 19, 2017 / 11:14 PM / in 22 days

BRIEF-Alibaba Group, Auchan Retail and Ruentex form new retail strategic alliance​

Nov 19 (Reuters) - Alibaba Group Holding Ltd:

* ‍ALIBABA GROUP, AUCHAN RETAIL AND RUENTEX FORM NEW RETAIL STRATEGIC ALLIANCE​

* ALIBABA GROUP -CO WILL INVEST A TOTAL OF ABOUT $2.88 BILLION TO OBTAIN DIRECT AND INDIRECT STAKE OF 36.16% IN SUN ART RETAIL BY BUYING SHARES FROM RUENTEX​

* ALIBABA GROUP HOLDING- DEAL WILL GIVE AUCHAN RETAIL, ALIBABA GROUP AND RUENTEX ABOUT A 36.18%, 36.16%, AND 4.67% INTEREST IN SUN ART, RESPECTIVELY​

* ‍AUCHAN RETAIL IS ALSO INCREASING ITS STAKE IN SUN ART​ Source text for Eikon: Further company coverage:

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