Alibaba Group Holding is selling its entire stake in e-commerce branding solutions provider Baozun, as the Chinese technology giant continues its corporate restructuring amid increased industry competition.
Hangzhou-based Alibaba, owner of the South China Morning Post, on Thursday signed a deal to sell 26.5 million Baozun shares to Champion Kerry for US$21.8 million, according to Baozun’s latest regulatory filing. Those shares represent about 14.4 per cent of the total outstanding shares of Baozun as of March 31 this year.
Source: TRADE FINANCE
