- Latin American e-commerce and fintech company Mercadolibre Inc (NASDAQ:MELI) has agreed to acquire a $25 million stake in the digital media company Aleph Group.
- CVC Capital Partners Fund VIII recently acquired a minority stake in Aleph for $470 million valuing the company at $2 billion.
- MercadoLibre will collaborate with IMS Internet Media Services on monetizing advertising space on its digital properties in countries where it does not have local sales operations.
- MercadoLibre and Aleph will also collaborate in new business development opportunities in digital advertising.
- Mercadolibre expects to close the transaction by August end.
- Aleph operates in Latin America through IMS Internet Media Services.
- Mercadolibre held $1.43 billion in cash and equivalents as of June 30, 2021.
- Price Action: MELI shares are trading higher by 1.25% at $1790.00 on the last check Wednesday.
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