JD.com to buy controlling stake in China Logistics
JD.com, Inc.
$27.57
10:54 23/04/24
2.13%
$0.58
Chinese online retailer JD.com said on Friday that its subsidiary, JD Property, has agreed to buy a controlling stake in China Logistics in a $2.1bn deal.
China Logistics Group Inc.
n/a
07:46 20/03/24
0.00%
€0.00
Nasdaq 100
17,476.02
10:55 23/04/24
1.54%
265.13
JD Property Group will buy a 26.4% stake for HK$4.35 per share from the company’s largest shareholder, Yupei International Investment Management.
The acquisition will take JD.com’s stake in China Logistics to around 35.8%, making it mandatory under Hong Kong takeover rules for JD to make an offer for the whole company.