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JD.com In Talks To Buy Controlling Stake In China Logistics

By  |  August 26, 2021

Chinese e-commerce giant JD.com is in advanced talks to acquire a controlling stake in storage facilities manager China Logistics Property Holdings for an undisclosed sum, Bloomberg News reported on Thursday, citing people familiar with the matter.

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    China Logistics Chairman Li Shifa and private equity firm RRJ Capital have put more than 50% of the firm up for sale, seeking a valuation of about $2 billion, according to the report.

    Shares of China Logistics surged nearly 14% in Hong Kong trading earlier on Thursday before they were suspended, pending inside information from the company.

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