JD.Com Subsidiary Reveals Proposed Acquisition Of Deppon Logistics - JD.com (NASDAQ:JD)

JD.Com Inc JD subsidiary, JD Logistics Inc, has entered a series of agreements to acquire Deppon Logistics Co Ltd.
JD Logistics will acquire about 99.99% of the equity interest in Ningbo Meishan Baoshui Area Deppon Investment Holding Company Limited, which holds 66.50% of the issued share capital of Deppon, for about RMB9 billion.
JD Logistics will make a mandatory general offer for all the issued, unrestricted and tradable shares of Deppon at RMB13.15 per share.
Deppon Holdco will become a subsidiary of JD Logistics, and its financial results will be consolidated into JD Logistics' consolidated financial statements.
Deppon provides Less-Than-Truckload (LTL) transportation, Full Truck Load (FTL) transportation, delivery services, and warehousing management in China.
JD.Com held $30.0 billion in cash and equivalents as of December 31, 2021.
Price Action: JD shares are trading lower by 5.40% at $45.40 in premarket on the last check Monday.