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Alibaba invests in Vietnamese retail company



A consortium led by Chinese eCommerce giant Alibaba will invest USD 400M in the subsidiary of Vietnamese conglomerate Masan Group CrownX. The valuation of CrownX isUSD 6.9B, as 5.5% of the shares were acquired in the transaction. This can be understood as a strategic investment by Alibaba. It was announced that Lazada, Alibaba's Southeast Asian eCommerce company, will cooperate with Masan Group in online shopping in the future.


Source: https://36kr.com/newsflashes/1229318947459717

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