Alibaba seeks Asean expansion with $1b Lazada buy

The Chinese e-commerce company is taking a majority stake in the Southeast Asian online retailer via a combination of newly issued and existing shares.

China's Alibaba is set to cast its considerable influence over Southeast Asian's online shopping channels after sealing a deal to buy a controlling stake in Singapore-based Lazada.

Alibaba said on Tuesday that it agreed to buy $500 million of newly issued shares from the online department store founded four years ago by German group Rocket Internet plus a further $500 million from existing shareholders. 

Its acquisition of Lazada is understood to be the culmination of around six months of searching across Southeast Asia for a suitably complementary business

However, Lazada is also an obvious acquisition candidate for cash-rich Alibaba. Dubbed by some...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222