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The Wall Street Journal: Alibaba to help China’s retailer Intime go private in $2.6 billion deal

Alibaba Group Holding Ltd. said it would team up with the founder of China’s Intime Retail (Group) Co. to take the department-store operator private, as the e-commerce giant seeks to extend its online dominance into physical stores.

China’s largest online retailer and Intime’s founder, Shen Guojun, will pay as much as 19.8 billion Hong Kong dollars (US$2.6 billion) to take the Hong Kong-listed department-store chain private, Alibaba said in a statement Tuesday. Alibaba BABA, +0.88% already has a 28% stake in Intime from a $692 million investment it made in 2014; its shareholding would rise to about 74% after the deal.

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