Deals
Alibaba’s Lazada Buys Singapore Web Grocer Backed by Saverin
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Lazada Group SA has agreed to buy Singaporean online grocer RedMart, in the latest expansion for Alibaba Group Holding Ltd. beyond its Chinese home turf.
Lazada, which Alibaba took control of this year in its largest overseas acquisition to date, said RedMart will continue to operate independently but the pair will share technology and operational infrastructure. It didn’t disclose the terms of the deal, which it expects to close before the end of 2016.