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in Tech

Chinese Group Alipay Said to Have Sold 3.4 Percent Stake in Zomato

by Editor November 29, 2023, 1:12 am 1.8k Views

Chinese Group Alipay Said to Have Sold 3.4 Percent Stake in Zomato

Chinese payments group Alipay plans to sell its 3.4 percent stake in Indian food delivery giant Zomato for nearly $400 million (nearly Rs. 3,333 crore) through block deals on Indian stock exchanges, according to three sources and a Reuters review of the deal’s term sheet.

Alipay, owned by Ant Group, will offload its entire 3.44 percent stake in the deal, the term sheet seen by Reuters showed.

Bank of America and Morgan Stanley are advisers on…

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