2 August, 2016
SSEK Indonesian Legal Consultants has acted as Indonesian counsel to Alibaba Group Holding in its US$1 billion purchase of a controlling stake in Southeast Asian online retailer Lazada Group, as has been reported.
As reported, Alibaba will buy US$500 million of newly issued shares from the online retailer, and a further US$500 million from existing shareholders.
Lazada was founded by Germany’s Rocket Internet in 2012 and is headquartered in Singapore. It also operates in Indonesia, Malaysia, the Philippines, Thailand and Vietnam.
SSEK’s team was led by founding partner Ira A. Eddymurthy and partner Fahrul S. Yusuf.
Sullivan & Cromwell was international counsel for Alibaba Group.
