HANGZHOU, Oct. 19 (Xinhua) -- Chinese e-commerce giant Alibaba Group on Monday announced that it will invest approximately 3.6 billion U.S. dollars to acquire control of Sun Art Retail Group Ltd., a leading hypermarket and supermarket operator in China.
Alibaba will seal the transaction by acquiring 70.94 percent equity in A-RT Retail Holdings Ltd., which owns 51 percent of Sun Art, from French multinational Auchan Retail International S.A. and its subsidiaries.
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