Alibaba may invest $400 million in Lazada to enter Europe
According to media DealStreetAsia, a document from ACRA (Accounting and Corporate Regulatory Authority of Singapore) shows that Southeast Asian e-commerce platform Lazada has issued an additional $378 million in new shares to its parent company Alibaba Group.
It is reported that several foreign media have previously reported that Alibaba plans to expand Lazada’s business to Europe. Lazada will cooperate with AliExpress to be responsible for overseas local e-commerce and cross-border e-commerce respectively. Cainiao International will provide warehousing and logistics support to both.
In addition, since the acquisition of Lazada in 2016, Alibaba has injected $1 billion and $2 billion into Lazada in 2017 and 2018, respectively. In addition to this additional issuance of new shares, Lazada also received a $1.3 billion capital injection from Alibaba in June 2020.