Debt-Laden Fosun Weighs Stake Sale In Alibaba's Cainiao

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Debt-Laden Fosun Weighs Stake Sale In Alibaba's Cainiao - Benzinga

Quick Summary:

Debt-laden Chinese conglomerate Fosun International, Ltd (OTC: FOSUF) (OTC: FOSUY) looked to offload a minority stake in Alibaba Group Holding Limited's (NYSE: BABA) logistics arm Cainiao in a deal that could fetch up to $1 billion.

Fosun has appointed a financial adviser to run the sale of its stake of less than 5% in Cainiao, and the plan is at an early stage, Reuters reports.

The once-acquisitive conglomerate, which owns resorts brand Club Med among other assets, is looking to sell its stake in Cainiao ...

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Article Details

Author / Journalist: Anusuya Lahiri

Category: Technology



Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-23 @ 13:53:50 (3 days ago)

News Timezone: GMT +8:00

Ranking: #394 (out of 3136 stories this day)

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Language: English

Article Length: 13 words

Reading Time: 1 minutes read

Sentences: 2 lines

Sentence Length: 7 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 1888487

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