JD Logistics to acquire full ownership of Kuayue-Express

JD (NASDAQ:JD ) Logistics, Inc., a key player in the logistics sector and a consolidated subsidiary of JD.com, Inc. (HKEx: 2618), has announced an agreement to acquire the remaining shares of Kuayue-Express Group Co., LTD. This move will increase JD Logistics' stake from approximately 63.57% to full ownership.

The equity transfer agreement, signed on December 6, 2024, outlines a purchase price of up to RMB6,484 million for the approximately 36.43% equity interest in Kuayue-Express. The final amount is subject to adjustments as per the terms of the agreement.

The acquisition is a strategic step for JD Logistics, as it will bring the complete control of Kuayue-Express under its umbrella, thereby consolidating its position in the logistics market. The transaction is set to occur in multiple steps and will adhere to customary closing conditions before it is finalized.

This development marks a significant expansion for JD Logistics as it seeks to enhance its service offerings and operational capabilities. The full integration of Kuayue-Express into JD Logistics' operations is expected to streamline processes and improve efficiency within the company's extensive logistics network.

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Source: Investing.com