Alibaba to invest $1 billion more in Lazada to speed up Asian drive

Alibaba Group Holding will invest another $1 billion to raise its stake in online mall Lazada Group SA to 83 per cent, securing control of a fast-growing start-up at the vanguard of its Southeast Asian expansion. The Chinese e-commerce leader is buying out most other backers in a deal that values the Singapore-based start-up at $3.

15 billion, Lazada Chief Executive Officer Maximilian Bittner said, with management and Temasek Holdings remaining as the only other investors. Lazada backers Rocket Internet SE and Investment AB Kinnevik.

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