Alibaba nears $4 billion JV deal with S.Korea’s E-Mart, Bloomberg News reports


(Reuters) -Alibaba Group is nearing a deal to merge its South Korean operations with E-Mart’s e-commerce platform in a transaction that would value the new joint venture at about $4 billion, Bloomberg News reported on Thursday.
(Reuters) -Alibaba Group is nearing a deal to merge its South Korean operations with E-Mart’s e-commerce platform in a transaction that would value the new joint venture at about $4 billion, Bloomberg News reported on Thursday.
The companies are finalizing details of the deal, which could be announced as soon as this week, the report added, citing people familiar with the matter.
Alibaba and E-Mart did not immediately respond to Reuters’ requests for comment.
Last week, Alibaba said it would sell its Chinese department store unit Intime and book a $1.3 billion loss from the deal, as the retail giant reshuffles its business portfolio to focus on its core e-commerce operations.
(Reporting by Mrinmay Dey in Bengaluru; Editing by Abinaya Vijayaraghavan)
A joint venture is a business arrangement where two or more parties agree to pool their resources for a specific project or business activity, sharing both the risks and profits.
E-commerce refers to the buying and selling of goods or services using the internet, which includes online shopping, electronic payments, and online auctions.
A merger is a business strategy where two companies combine to form a single entity, often to enhance competitiveness, increase market share, or achieve synergies.
Market valuation is the process of determining the current worth of an asset or company based on market conditions, investor perceptions, and financial performance.
A business portfolio is a collection of investments, projects, or business units that a company manages to achieve its strategic objectives and maximize returns.
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