Lazada Group, a southeast Asian e-commerce company backed by Alibaba Group Holding Ltd, has bought Singapore-based online grocer RedMart, the two companies said in a statement on Wednesday.
The statement did not disclose the value of the deal, which is expected to be completed in the current quarter.
Lazada said it expects the transaction to be completed in the fourth quarter of this year, adding that RedMart will be led by its current management and will “continue to operate independently” after the transaction.
Lazada said in a statement on Wednesday that “both parties will benefit from each other’s cutting-edge technological and operational infrastructure, as well as an extended customer network”.
Lazada said it expects the transaction to be completed in the fourth quarter of this year, adding that RedMart will be led by its current management and will continue to operate independently
Must Read
