HONG KONG Jan 10 Intime Retail (Group) Co Ltd
said on Tuesday its founder and Alibaba Group Holding
Ltd had offered to take the department store operator
private for HK$19.79 billion ($2.55 billion), as low liquidity
in trading of the stock was not sufficient to help the company
Alibaba's unit, Alibaba Investment Ltd, and Shen Guo Jun
jointly offered to take Intime private at HK$10 per share,
representing a 42.25 percent premium over its last trading price
of HK$7.03 each, prior to a trading suspension on Dec. 28.
Trading in the company's shares will resume on Tuesday.
Alibaba currently holds 27.82 percent of Intime while Shen
owns 9.17 percent.
($1 = 7.7561 Hong Kong dollars)
(Reporting by Donny Kwok; Editing by Michael Perry)