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China State Fund That Includes Alibaba to Invest in Suning Unit Bloomberg News, Bloomberg News (Bloomberg) A Chinese state-backed fund will take a stake in the retail arm of billionaire Zhang Jindongâs Suning empire, marking another step in Beijingâs efforts to clean up its heavily indebted conglomerates. The fund, led by the Nanjing state asset management committee and the Jiangsu provincial government, will take a 16.96% stake in Suning.com Co. at 5.59 yuan a share, according to a statement Monday. Thatâs the same price the stock was trading at before it was halted June 16, valuing the deal at about 8.8 billion yuan ($1.36 billion). ....
Chinese state, Alibaba bail out retail arm of Suning taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.
Alibaba-Led Bailout of China Retailer Draws Haier, Xiaomi bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.