BABA

Alibaba to sell Intime department store business for $1B, Bloomberg reports

Alibaba (BABA) has agreed to sell its Intime department store business to Youngor Fashion for around $1B, Bloomberg reports. The sale is part of an effort by Alibaba to offload non-core assets, Bloomberg notes. Alibaba had reached out to several potential buyers for Intime, people familiar with the matter said earlier this year.

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