Leading Grocer Sells Stake in Supermarket Chain to E-Commerce Firm

(Beijing) — China’s leading grocery chain has sold its shares in a supermarket brand to an e-commerce firm just two years after investing in it, raising questions about the future of both offline and online retail.

Yonghui Superstores Co. Ltd. announced over the weekend that it has agreed to transfer all its shares in Shanghai-based Lianhua Supermarket Holdings Co. Ltd. to Shanghai Yiguo E-Commerce Co. Ltd. in transactions worth HK$950 million ($122.4 million).