China's Alipay plans near $400 million stake sale in India's Zomato: Sources
China's Alipay intends to sell its 3.4% share in the Indian food delivery firm Zomato for about $400 million through block trades on Indian stock exchanges, as per the three sources and a review of the deal's term sheet by Reuters. As per the term sheet, Alipay intends to divest its full 3.44% interest in the transaction. This year, Zomato's stock has increased by more than 90%. Bank of America and Morgan Stanley are advisers on the deal.
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