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

 |  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.

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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