Alibaba Group Holding LtdAlibaba sells Lingxi Games for over $2B, but price and financials undisclosed, leaving valuation unclear

Alibaba Group Holding Limited agreed to sell its entire interest in Lingxi Games to private equity firm Trustar Capital in a deal worth more than $2 billion, according to a source cited by Reuters. The internal announcement did not disclose the price, closing timetable, or regulatory approvals. The sale continues Alibaba's simplification of its portfolio outside e-commerce, cloud computing, and AI, and comes as the company has committed at least RMB380 billion, or approximately $53 billion, to AI and cloud infrastructure over three years. Lingxi Games is best known for Three Kingdoms: Strategy Edition, developed with Japan's Koei Tecmo, and also owns titles such as Three Kingdoms Fantasy Land and Ashes of the Kingdom. Alibaba has not disclosed Lingxi's revenue, profit, cash flow, or the official sale price, leaving investors unable to determine whether the reported consideration reflects fair value.
Alibaba Group Holding LtdAlibaba sells Lingxi Games for over $2B, but price and financials undisclosed, leaving valuation unclear
Chevron CorpTrustar Capital acquires Lingxi Games, but financial details undisclosed, impact unclear