Alibaba Group has successfully sold its 78.70% stake in Gao Xin Retail to DCP Capital Partners for approximately HKD 13.138 billion, marking a significant transaction in the Hong Kong retail sector.
Target Information
Gao Xin Retail Co., Ltd. (Stock Code: 6808.HK) is a prominent retail company based in Hong Kong that has recently made a significant announcement regarding the sale of its controlling stake. On February 28, the company disclosed that Alibaba Group Holding Limited (Stock Codes: BABA.US/9988.HK) is divesting its entire 78.70% equity interest in Gao Xin Retail through its wholly-owned subsidiaries, Taobao China Holdings Limited and Jixin Holdings Limited. This transaction has been successfully completed as of February 27, 2025.
The sale was executed with a total consideration amounting to approximately HKD 13.138 billion. China International Capital Corporation (CICC) acted as the financial advisor to Alibaba Group, facilitating this critical transition in ownership. This sale represents one of the largest transactions in the retail sector in China's market over the past four years.
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Industry Overview in Hong Kong
The retail industry in Hong Kong has experienced significant variability over recent years, influenced by a range of factors including changing consumer behaviors and the effects of the COVID-19 pan
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Disclosed details
Transaction Size: $1,681M