Alibaba Group Services Limited Completes Acquisition of Shares in Lazada Group

June 30, 2017

S&C client Alibaba Group Services Limited, a wholly owned subsidiary of Alibaba Group Holding Limited, completed the acquisition of shares held by certain shareholders in Lazada Group S.A., a Luxembourg company operating an e-commerce platform for local and international sellers and brands to consumers in Southeast Asia.

Alibaba purchased the shares at an implied valuation of $3.15 billion for the company, reflecting a significant increase in Lazada's valuation since Alibaba first acquired its majority stake in April 2016. The transaction increases Alibaba's stake from 51 percent to approximately 83 percent and brings its total investment in the company to more than $2 billion.

The core S&C team representing Alibaba was led by Garth Bray and York Schnorbus, along with Ram Narayan and Florian Spaeth. Juan Rodriguez and Axel Beckmerhagen provided guidance on competition issues, and Kristen Klein and Jeannette Braun advised on employment compensation and benefit matters.