China’s JD Logistics agrees to buy courier company Deppon

Chinese e-commerce giant JD.com on Sunday said that its subsidiary JD Logistics has agreed to buy domestic courier Deppon Logistics.

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.