Tag: china logistics

JD Property Group offered to buy a 26% stake in China Logistics
Logistics

JD Property Group offered to buy a 26% stake in China Logistics

Chinese e-commerce giant JD.com's real estate unit has made a HK$3.99 billion ($513.45 million) offer to buy a controlling stake in storage facilities manager China Logistics Property Holdings, the companies said in a joint exchange filing on Friday. JD Property Group offered to buy a 26.38% stake in China Logistics for HK$4.35 per share from its top shareholder, Yupei International Investment Management. That would take JD.com's stake in China Logistics to about 35.8%, making it mandatory under the Hong Kong takeover code for the e-commerce giant to make a general offer for the whole company. The offer price of HK$4.35 apiece represents a 7.4% premium to China Logistics' last close of HK$4.05 on Wednesday. China Logistics shares were halted on Thursday, pending the announceme...