By Michele Maatouk
Date: Friday 03 Sep 2021
LONDON (ShareCast) - (Sharecast News) - 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.
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.
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