Alibaba pays $1 bln for majority of Lazada
Alibaba Group Holding Ltd said April 12 that it invested about $1 billion to buy a majority stake in Lazada Group S.A. Alibaba is buying of $500 million Lazada newly issued equity and buying the rest in Lazada stock. Lazada is an eCommerce platform in Southeast Asia. A put-call arrangement gives Alibaba the right to buy the rest of Lazada at a fair market value during the 12 to 18 month period after the closing of the transaction. Credit Suisse (Hong Kong) Ltd advised Alibaba while Goldman Sachs (Asia) LLC as exclusive financial advisor to Lazada.
12 April 2016•4 mins read
