Ant Financial to net nearly 6X return on investment from Zomato parent stake sale

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Chinese ecommerce giant Alibaba’s affiliate, Ant Financial, is set to sell its remaining 1.9% stake in rel=”dofollow” href=”https://economictimes.indiatimes.com/zomato-ltd/stocks/companyid-57948.cms” target=”_blank”>Zomato and Blinkit parent rel=”dofollow” href=”https://economictimes.indiatimes.com/eternal-ltd/stocks/companyid-57948.cms” target=”_blank”>Eternal on Thursday through block deals that will generate Rs 5,370 crore at the floor price.

The deal will take Ant Financial’s total proceeds from selling its stake in the food and grocery delivery company to more than Rs 18,000 crore, or nearly six times its investment of Rs 3,246 crore. It had made the investment in several tranches between 2018 and 2020 and held the stake through two entities.

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Ant Financial to net nearly 6X return on investment from Zomato parent stake sale



Chinese ecommerce giant Alibaba’s affiliate, Ant Financial, is set to sell its remaining 1.9% stake in rel=”dofollow” href=”https://economictimes.indiatimes.com/zomato-ltd/stocks/companyid-57948.cms” target=”_blank”>Zomato and Blinkit parent rel=”dofollow” href=”https://economictimes.indiatimes.com/eternal-ltd/stocks/companyid-57948.cms” target=”_blank”>Eternal on Thursday through block deals that will generate Rs 5,370 crore at the floor price.

The deal will take Ant Financial’s total proceeds from selling its stake in the food and grocery delivery company to more than Rs 18,000 crore, or nearly six times its investment of Rs 3,246 crore. It had made the investment in several tranches between 2018 and 2020 and held the stake through two entities.

According to a term…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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