Chinese payments group Alipay sells its stake in Zomato for Rs 3,336 crore

Buyers included Goldman Sachs, Fidelity Investments, Morgan Stanley, ADIA


 Chinese third-party mobile and online payment platform Alipay, on Wednesday, offloaded its entire stake in food delivery giant Zomato in a block deal on Wednesday.

The company sold 3.5 per cent stake in Zomato for about Rs 3,336 crore at Rs 112.7 apiece.

The buyers included Goldman Sachs, Fidelity Investments, Morgan Stanley, ADIA, Vanguard, and Societe Generale, reported Economic Times.

Bank of America and Morgan Stanley were advisers on the deal, according to Reuters.

Alipay, owned by Ant Group wanted "to cash out ... the (market) timing is good," Reuters has quoted a source as saying.

The shares of Zomato rallied nearly four per cent on Wednesday, to close at Rs 117.70. The shares of the food delivery giant, which reported a second profitable quarter, have gone up over 75 per cent in the past six months.

Alipay is not the only Chinese firm that offloaded shares in Indian start-ups. In August, China's Antfin sold a 10.3 per cent stake in financial technology company Paytm.

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