Alibaba Group Holding Ltd plans to sell a stake of about 3% in Indian food delivery firm Zomato Ltd worth $200 million through a block deal, CNBC Awaaz reported on Tuesday, citing sources.
According to Refinitiv data, the Chinese e-commerce behemoth owns 13.3% of Zomato through its finance affiliate Ant Group. Reuters requests for comment were not immediately responded to by Alibaba or Zomato. According to a CNBC Awaaz reporter, the block deal on Wednesday will likely be at a 5% to 6% discount to Zomato’s Tuesday close of 63.55 rupees. The news comes just months after Uber Technologies sold its 7.8% stake in Zomato for $392 million in a block trade on local exchanges, according to Reuters, citing sources.
