JD Logistics, a subsidiary of Chinese e-commerce giant JD.com, has agreed to purchase Chinese courier company Deppon Logistics, reports Reuters.
Under the deal, JD Logistics will acquire 99.99% equity stake in Deppon Holdco for a total consideration of about RMB 9 billion ($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 RMB 13.15 per share.