Deals
Alibaba Takes Big Step Offline With $2.6 Billion Intime Deal
- Alibaba prices Intime at HK$10 per share in take-private deal
- Deal expands e-commerce giant’s growing physical footprint
QuickTake: Alibaba's Story of Growth and Dominance
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Alibaba Group Holding Ltd. is leading a bid to take department store chain Intime Retail Group Co. private for as much as $2.6 billion, as China’s largest online retailer deepens its integration with brick-and-mortar stores.
The deal to buy out Intime adds to Alibaba’s burgeoning foothold in physical retail as it pursues growth beyond a slowing online business. Control of Intime will also allow the e-commerce giant to explore ways to modernize a $4.5 trillion industry that hasn’t adapted well to the growing popularity of online shopping.