Alibaba acquires controlling stake in Lazada after $1b investment
The transaction consists of an investment of approximately $500 million in newly issued equity capital of Lazada and acquisition of shares from certain shareholders of Lazada, for a total investment by Alibaba of approximately $1 billion.
Headquartered in Singapore, Lazada was founded by and is currently controlled by Germany’s Rocket Internet SE, Channel NewsAsia reports.
Lazada currently operates e-commerce platforms in Indonesia, Singapore, Malaysia, the Philippines, Thailand and Vietnam. The transaction is expected to help brands and distributors on Alibaba's platform to access the South-east Asian market.
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