China’s JD Logistics agrees to buy courier company Deppon

(Reuters) – Chinese language e-commerce big JD.com Inc on Sunday stated that its subsidiary JD Logistics Inc has agreed to purchase home courier Deppon Logistics Co Ltd.

Beneath the deal, JD Logistics will purchase 99.99% fairness stake in Deppon Holdco for a complete consideration of about 9 billion yuan ($1.42 billion). Deppon Holdco owns a complete of about 66.50% of Deppon Logistics.

JD Logistics will then make a proposal for all of the issued shares of Deppon Logistics not held by Deppon Holdco, for 13.15 yuan per share.

($1 = 6.3389 Chinese language yuan renminbi)

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