SINGAPORE— Gap Inc. will sell its business in China and Taiwan to Chinese e-commerce services provider Baozun Inc. for up to $50 million, bringing an end to a bumpy 12-year foray in the region. Baozun, which is listed both on the Nasdaq and in Hong Kong, said Tuesday that it had signed a deal to acquire Gap Greater China, a unit of San Francisco-based Gap, in an all-cash transaction with a primary consideration of $40 million, subject to adjustments within a limit of $50 million. The deal, expected to be completed in the first half of 2023, is subject to regulatory approval.

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