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Alibaba acquires controlling stake in Lazada for $1bn

( April 12, 2016, 09:49 GMT | Official Statement) -- MLex Summary: Chinese tech giant Alibaba Group will acquire a controlling stake in Lazada, a leading e-commerce platform in Southeast Asia, for $1 billion. The transaction values Lazada at $1.5 billion and consists of about $500 million in newly issued equity capital and the acquisition of shares from certain shareholders, including original investor Rocket Internet's 9.1 percent stake, worth $137 million. Lazada operates in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. The companies' full statement follows: ...

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