Suning Sells 23% Stake to State-owned Investors, Raising 14.8 Billion Yuan
Retail giant Suning.com announced on Sunday it has received 14.8 billion yuan ($2.3 billion) in investment from state-backed investors in exchange for a 23% stake in the company, leading to a change in management.
The two buyers – Shenzhen International Holdings and Shenzhen Kunpeng Equity Investment Management, both owned b…
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