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JD.com unit to take over China Logistics in $2.1 billion deal

September 4, 2021
Source: bloomberg.com bloomberg.com
News Snapshot:
A subsidiary of JD.com Inc. agreed to buy a controlling stake in China Logistics Property Holdings Co. in a deal valuing the firm at about HK$16.4 billion ($2.1 billion). JD Property, the Chinese e-commerce giant’s infrastructure management unit, will pay HK$4.35 per share to buy China Logistics Chairman Li Shifa’s stake of about 26% in the company, according to a statement to the Hong Kong stock exchange Friday. RRJ Capital, Joy Orient Investments Ltd. and Anbang Investment Holdings Co. have given irrevocable offerings for their own shares and convertible bonds. The buyer will be required to launch a mandatory tender...
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Tags: acquisition | America | ARM | bank | capital | chairman | China | Chinese | community | coronavirus | delivery | e-commerce | group buying | Hong Kong | Hong Kong Stock Exchange | infrastructure | investment | IT | JD | JD Logistics | logistics | Pandemic | stock exchange | United States | USA

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