China's JD Logistics agrees to buy courier company Deppon

JD Logistics

13/03/2022 12:14

March 13 (Reuters) - Chinese e-commerce giant JD.com Inc
 9618.HK  on Sunday said that its subsidiary JD Logistics Inc
 2618.HK  has agreed to buy domestic courier Deppon Logistics Co
Ltd  603056.SS .
    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)

 (Reporting by Shivani Tanna in Bengaluru, Editing by Louise
Heavens)
 ((ShivaniJayesh.Tanna@thomsonreuters.com;))