June 28, 2017 / 9:38 AM / 2 months ago

BRIEF-Kinnevik to sell remaining stake in Lazada for $115 mln to Alibaba

June 28 (Reuters) - Kinnevik

* Says intends to sell its remaining stake in Lazada for USD 115 million

* Says intends to sell its remaining 3.6 pct stake in Lazada Group S.A. to Alibaba Group Holding Limited for a gross consideration of USD 115 mln

* The intended sale of Kinnevik's remaining 3.6% stake in Lazada for USD 115m equates to an implied valuation of USD 3.15bn for Lazada

* Transaction implies a SEK 327 mln, or 47%, uplift versus Kinnevik's recorded fair value per 31 March 2017

* In total, Kinnevik's investment of SEK 503m in Lazada is expected to result in a gain of SEK 933m, a cash-on-cash multiple of 2.9x and an IRR of 33%, as at 27 June 2017 Source text for Eikon: Further company coverage: (Reporting by Stockholm Newsroom)

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