Hangzhou, 28th June: Earlier this week, China’s largest e-commerce company, Alibaba Group, announced it will invest approximately US$1 billion in the Lazada Group. The move will serve to increase its stake from the current position of 51% up to 83%.
The transaction values Lazada at approximately US$3.15 billion. Alibaba acquired its initial stake in Lazada in April 2016. After this recent transaction, Alibaba will have invested in total more than US$2 billion in the company.