
Alibaba to Sell Sun Art to Buyout Firm DCP for $1.6 Billion
(Bloomberg) — Alibaba Group Holding Ltd. agreed to sell its shares in Sun Art Retail Group Ltd. to private equity firm DCP Capital, unloading another high-profile physical commerce asset to focus on its core online business. Most Read from Bloomberg China’s e-commerce pioneer said it could receive gross proceeds of up to HK$12.3 billion ($1.6…