Youngor'S Acquisition Of Yintai Was Unconditionally Approved By The State Administration Of Market Supervision
According to the announcement recently issued by the Second Division of Anti monopoly Law Enforcement of the State Administration of Market Supervision and Administration, operators such as Youngor Group (Ningbo) Co., Ltd. (hereinafter referred to as "Youngor"), a vice president unit of China National Garment Association, and Hangzhou Zhenyi Business Management Co., Ltd. (hereinafter referred to as "Hangzhou Zhenyi") have acquired Yintai Business (Group) Co., Ltd. (hereinafter referred to as "Yintai") The equity case of the two companies was concluded on February 7 and unconditionally approved.
On December 17, 2024, Alibaba announced that it planned to sell Yintai's equity to the purchaser consortium composed of Youngor Group and Yintai management team members (Hangzhou Zhenyi, Hangzhou Taiyi), with a transaction amount of about 7.4 billion yuan.
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