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Alibaba will spend $1 billion to increase stake in Lazada Group

Chinese Internet company Alibaba Group Holding plans to increase its stake in one of the most popular Southeast Asian Internet company Lazada Group to 83% while spending $1 billion.

Alibaba plans to acquire shares from several shareholders Lazada based on the appraised value of the company at $3.5 billion, which shows a significant increase in the value of the company from the moment when Alibaba for the first time acquired a considerable share in 2016.

Lazada will continue its activities under this brand after the transaction. Bank Morgan Stanley Asia Ltd. will act as financial advisor in this transaction.

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