ALIBABA - LAZADA PUSH INTO EUROPE AND IPO

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SINGAPORE -- Chinese internet giant Alibaba has invested $912.5 million in Southeast Asian-focused Lazada, according to recent filings with financial regulators in Singapore.

The proposed financing was seen as a precursor to a spinoff and an initial public offering by Lazada, Bloomberg had reported.

Lazada is majority owned by Alibaba.

Alibaba has ambitious plans for Southeast Asia. Last year, the Chinese company told investors that it is targeting a long-term goal of quintupling its gross merchandise value to $100 billion and sees Lazada eventually serving 300 million users, according to another Bloomberg report.

Europe is a very big market obviously and for most of the European brands, their largest retail partner is Alibaba Group because of their sales in China and in other markets,” Dong said in an interview in Singapore. “We go where the brands want us to go.”

A European push by Lazada would mark a revival in Alibaba’s global efforts, which slowed in recent years in the face of torrid competition from Amazon and Tencent Holdings Ltd.-backed Sea Ltd

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