Business

China’s JD Logistics agrees to buy courier company Deppon

Organized Tour to JD.com Headquarters and No.1 Logistics Center in Asia amid Beijing Singles' Day shopping festival
FILE PHOTO: An automated ground robot transports containers at Asia No.1 Logistics Center of JD Logistics, owned by JD.com, amid the Singles’ Day Shopping Festival, during an organized tour in Beijing, China November 9, 2021. REUTERS/ Tingshu Wang

March 13, 2022

(Reuters) – Chinese e-commerce giant JD.com Inc said on Sunday that its subsidiary JD Logistics Inc has agreed to sell domestic courier service Deppon Logistics Co Ltd.

Under the terms of the agreement, JD Logistics will acquire a 99.99% stake in Deppon Holdco for a total consideration of approximately 9 billion yuan (US$1.42 billion). Deppon Holdco owns approximately 66.50% of Deppon Logistics in total.

JD Logistics will then make an offer for all outstanding shares of Deppon Logistics not held by Deppon Holdco at 13.15 yuan per share.

($1 = 6.3389 Chinese renminbi yuan)

(Reporting by Shivani Tanna in Bengaluru, Editing by Louise Heavens)

https://www.oann.com/chinas-jd-logistics-agrees-to-buy-courier-company-deppon/?utm_source=rss&utm_medium=rss&utm_campaign=chinas-jd-logistics-agrees-to-buy-courier-company-deppon China’s JD Logistics agrees to buy courier company Deppon

DUSTIN JONES

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