Alibaba is at the forefront of a bid of as much as $2.6 billion that would take Intime Retail Group private as part of Alibaba’s efforts to counteract slowing online sales growth. The privatization of Intime might help Alibaba modernize China’s $4.5 trillion brick-and-mortar retail market.
The $2.6 billion price tag would offer up a 42 percent premium for Intime, as paid by Alibaba and Intime Founder Shen Guojun, at HK$10 a share — and Alibaba already owns three-quarters of the company’s stock. This privatization also marks Alibaba’s first deal of the new year, folding into Alibaba the 29 department stores and 17 shopping malls owned by Intime.
≤$2.6 billion | Alibaba’s bid to take Intime Retail Group private
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42 percent | Premium for Intime Alibaba could pay
$4.5 trillion | Size of China’s brick-and-mortar retail market
HK$10 | Price per share of Intime stock
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3/4+ | Fraction of Intime shares Alibaba already owns
29 | Number of department stores Intime owns
17 | Number of malls Intime owns
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