China’s E-commerce Dangdang Inc. have been in talks with China’s HNA Group Co Ltd to be acquired for $50 billion making the online marketplace worth over $1 billion. Over the past two years, HNA Group has grown an interest in financial services, logistics, aviation, and hospitality hoping to make a deal with Dangdang to build e-commerce platforms.
Dangdang would be valued at $1.2-$1.5 billion if this deal is approved with HNA hoping to own a little more than 90% of the company. Goods in this e-commerce platform range from clothes, furniture, cosmetics, and even DVDs. With China being the world’s largest e-commerce market, online retail has grown steadily in the past few years with Alibaba Group Holding Ltd. and JD.com being the biggest leaders.
Dangdang said that it has been approached by investors and not has accepted any offers.