Mercadolibre To Acquire $25M Stake In Digital Media Agency Aleph - MercadoLibre (NASDAQ:MELI)

Latin American e-commerce and fintech company Mercadolibre Inc 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.