25-April-2024
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Commercial Laws
 
Alibaba invests additional $2 billion in Southeast Asian e-commerce firm Lazada
20-Mar-2018

Chinese tech giant Alibaba said Monday it would invest an additional $2 billion in Southeast Asian online retailer Lazada as part of its continued push into the region. Last year, Alibaba increased its stake in the Singapore-based firm from 51 percent to 83 percent with an additional billion-dollar investment. Alibaba acquired control of Lazada in 2016 with an initial $1 billion investment. Including Monday's announcement, Alibaba will have ponied up a total of $4 billion to invest into Lazada, which has operations in Indonesia, Malaysia, the Philippines, Thailand, Vietnam and Singapore.

News Source:- https://www.cnbc.com/2018/03/19/alibaba-invests-addition-2-billion-dollars-in-e-commerce-firm-lazada.html
 
 
 
 
 

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