Alibaba to Sell Department Store Chain Intime for $1 Billion, Booking $1.3 Billion Loss [Yahoo! Finance]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
Last alibaba group holding limited american depositary shares each representing eight ordinary share earnings: 2/13 06:45 am
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Source: Yahoo! Finance
store chain Intime to the apparel group Youngor and Intime's management team for 7.4 billion renminbi, or $1 billion, as the company shifts its focus to its core e-commerce business. According to Alibaba 's filing to the Hong Kong Stock Exchange, the company currently owns about 99 percent of the equity interest in Intime. The deal is expected to generate a loss of around 9.3 billion renminbi, or $1.3 billion, on Alibaba's books. The completion of the sale is still waiting for clearance from Beijing and other customary closing conditions. More from WWD Alibaba Shoots Down Ralph Lauren Singles' Day Sky-high Returns Reports Hello Kitty Celebrates 50 Years With Help From the Alibaba Pictures-owned Alifish Alibaba Upgrades to Dual Primary Listing in Hong Kong Intime was founded by Chinese entrepreneur Shen Guojun in 1998 in Hangzhou. The company went public in Hong Kong in 2007, a first for a mainland China department store. Ten years ago, Alibaba invested $692 million in th
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BABA
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- 11/15/24 - Beat
BABA
Sec Filings
- 12/20/24 - Form 6-K
- 12/17/24 - Form 6-K
- 12/13/24 - Form 6-K
- BABA's page on the SEC website