Rocket Internet and Tesco sold stakes sized at $137m and $129m respectively as Alibaba took a 67% stake in the Southeast Asia-focused e-commerce company.
E-commerce group Alibaba invested $1bn in Singapore-based e-commerce marketplace Lazada today in a deal that gave partial exits to investors including e-commerce holding company Rocket Internet and retailer Tesco.
Alibaba acquired a 67% stake in Lazada through the investment, securing $500m of newly issued shares and $500m of shares held by existing investors including Rocket Internet, Tesco and investment firm Kinnevik.
Founded in 2012 and incubated by Germany-based Rocket Internet, Lazada operates a diversified e-commerce platform that covers Indonesia, Malaysia,…
