Alibaba: increases stake in Southeast Asia's Lazada.
(CercleFinance.com) - Alibaba is going to invest approximately 1 billion dollars to increase its stake in Southeast Asia's e-commerce platform Lazada (from 51% to approximately 83%).
The Chinese Internet giant said that the transaction demonstrates its confidence in the growth potential of the Southeast Asian markets and its commitment to the region.
Alibaba will purchase the shares at an implied valuation of 3.15 billion dollars for the company, which reflects a significant increase in the value of Lazada since it first acquired its majority stake in April 2016.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The Chinese Internet giant said that the transaction demonstrates its confidence in the growth potential of the Southeast Asian markets and its commitment to the region.
Alibaba will purchase the shares at an implied valuation of 3.15 billion dollars for the company, which reflects a significant increase in the value of Lazada since it first acquired its majority stake in April 2016.
Copyright (c) 2017 CercleFinance.com. All rights reserved.