Alibaba's biggest overseas investment to date is a $1 billion ecommerce deal
April 13, 2016 - Uncategorized
Alibaba Group Holding Ltd. is making its largest overseas investment with a $1 billion deal for control of Lazada Group SA, taking the Chinese ecommerce giant to Southeast Asia and closer to a goal of shedding its home-market reliance.
China’s largest online emporium will pay $500 million for new shares in the closely held company and purchase an equal amount from existing investors, Alibaba said in a statement. Investors selling include Germany’s Rocket Internet SE, British supermarket chain Tesco Plc and Investment AB Kinnevik. Read more…