China’s Alipay to sell its 3.4% stake in Zomato for nearly $400 million: Report

MUMBAI -Chinese payments group Alipay plans to sell its 3.4% stake in food delivery giant Zomato for nearly $400 million through block deals on Indian stock exchanges, according to three sources and a Reuters review of the deal’s term sheet.

Alipay, owned by Ant Group, will offload its entire 3.44% stake in the deal, the term sheet seen by Reuters showed.