Alibaba (BABA) Acquires Lazada Controlling Stake For $1 Billion
Alibaba Group Holding Limited is acquiring a controlling stake in Lazada Group, an e-commerce platform that operates in six countries in Southeast Asia, the two companies announced in a joint statement Tuesday. Alibaba will buy freshly issued equity capital worth $500 million from Lazada and spend an equal sum on buying shares from other large investors in the company, bringing its total investment in Lazada to $1 billion.