BABA-W (09988): Intends to sell Yin Tai

BABA-W (09988) announced that the company and another minority shareholder have agreed to sell 100% of Yintai's equity to a consortium consisting of Youngor Fashion Group and members of the Yintai management team. Yintai is one of China's leading department store companies. Alibaba currently holds approximately 99% of Yintai's equity. The total amount that Alibaba expects to receive from the sale of Yintai is approximately RMB 7.4 billion (1 billion USD). The completion of the sale of Yintai is subject to Chinese antitrust review and other customary closing conditions.