The Chinese technology group Alibaba invests billions of dollars in the Chinese supermarket Sun Art Retail. In doing so, Alibaba doubles its interest in the running of hypermarkets.
Alibaba has $ 3.6 billion on the table and thus holds 72% of Sun. Sun Art Retail is the largest chain in China. Alibaba wants to take control of the whole company eventually.
The deal clearly reflects the intention of Alibaba, the most valuable company in Asia, according to experts. With the step, the company wants to expand to physical shops, especially to grocery stores. Sun Art operates hundreds of hypermarkets in China with the Auchan and RT-Mart brands, and has a huge distribution and storage network. Of these, Alibaba, for example in the area of fresh products, can now make good use.