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Business deals

China's JD Logistics agrees to buy courier company Deppon

Subsidiary of will acquire 99.99% equity stake

People walk past a JD Logistics (JDL) autonomous delivery vehicle displayed at the booth during the 2021 China International Fair for Trade in Services (CIFTIS) in Beijing, China Sep.4, 2021.    © Reuters

 (Reuters) -- Chinese e-commerce giant 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.

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