1. News
March 23, 2018updated 22 Mar 2018 10:05am

M&As this week: Alibaba Group, iFresh, Momentum Group

China-based Alibaba Group has entered an agreement to acquire an additional stake in Lazada Group for $2bn.

China-based Alibaba Group has entered an agreement to acquire an additional stake in Lazada Group for $2bn.

Alibaba Group is an online and mobile commerce company, while Lazada is an online retailer of electronics, fashion, home appliances, health and beauty products, based in Singapore.

The acquisition will allow Alibaba Group to grow as the biggest e-commerce platform in South East Asia.

iFresh has agreed to acquire a 75% stake in Fujian Fuding Seagull Fishing Food Co., Ltd for CNY525m ($82.83m).

US-based iFresh operates a chain of grocery supermarkets, while Fujian Fuding Seagull provides seafood breeding, fishing and processing services in China.

“The acquisition will enable OSRAM to boost its electronic component business.”

Momentum Group has completed the acquisition of a 70% stake in Reklamproffsen Skandinavien for an undisclosed sum.

Based in Sweden, Momentum Group is a distributor of industrial supplies, components and services, while Reklamproffsen is a profile clothing and workwear retailer.

The advertising campaigns will operate independently with the aid of same staff and management, upon completion of the transaction.

OSRAM has completed the acquisition of BAG Electronics for an undisclosed sum.

Germany-based OSRAM is involved in providing custom-designed and performance-driven professional lighting solutions, while BAG Electronics specialises in LED modules and lighting software.

The acquisition will enable OSRAM to boost its electronic component business.

D.W.Nye has completed the acquisition of Fixings & Powertool Center for an undisclosed sum.

D.W.Nye is a UK-based supplier of building and landscaping materials, while Fixings & Powertool is a retailer of fixings, fastenings, power and hand tools.

The acquisition was completed on 19 March.