China's JD Logistics agrees to buy courier company Deppon
Reuters
Published Mar 13, 2022 09:33AM ET
(Reuters) - Chinese e-commerce giant JD (NASDAQ:JD).com Inc on Sunday said that its subsidiary JD Logistics Inc has agreed to buy domestic courier Deppon Logistics Co Ltd.
Under the deal, JD Logistics will acquire 99.99% equity stake in Deppon Holdco for a total consideration of about 9 billion yuan ($1.42 billion). Deppon Holdco owns a total of about 66.50% of Deppon Logistics.
JD Logistics will then make an offer for all the issued shares of Deppon Logistics not held by Deppon Holdco, for 13.15 yuan per share.
($1 = 6.3389 Chinese yuan renminbi)
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Written By: Reuters
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