Kuala Lumpur, 28 June 2017: Rocket Internet SE (“Rocket Internet”) has announced today it intends to sell its remaining 8.8% stake (fully-diluted) in Lazada Group S.A. (“Lazada”) to Alibaba Group Holding Limited (“Alibaba”) for USD 276 million, equating to an implied USD 3.15 billion valuation of Lazada.
The transaction is the result of the exercise of the put-call agreement entered into in conjunction with Rocket Internet’s sale of a 9.1% stake in Lazada to Alibaba in April 2016 for USD 137 million.
Rocket Internet expects to realize an overall 20x money multiple on its invested capital of EUR 18 million.
“Lazada has been a great success for us and is testament to our ability to support companies in Emerging Markets. Since the launch of the company in 2012 in Southeast Asia, Lazada has become the leading eCommerce player in the region” said Oliver Samwer, CEO Rocket Internet. “This is only the beginning for Lazada. We wish the management team continued success in outgrowing competition by innovating and addressing the complexities of the six distinct markets Lazada is operating in.”