JD Logistics expands its e-commerce capabilities
JD Logistics, Gold Talent and Cosco Shipping Logistics have entered into a joint venture (JV) to invest in online logistics platform EShipping.
JD Logistics is the delivery arm of Chinese e-commerce giant JD.com. Gold Talent is a wholly-owned subsidiary of Hong Kong-based logistics major Orient Overseas (International) Limited (OOIL). Cosco Shipping Logistics is an affiliate of Chinese state-owned Shipping and logistics services supplier company China Cosco Shipping Corporation Limited.
The JV formation will involve the injection of the JD Onshore Company into the JV by JD Logistics and the acquisition of the JD Offshore Company by the JV funded by JD Logistics; the acquisition of EShipping by Gold Talent and Cosco Shipping Logistics; the injection of EShipping into the Joint Venture; and the capital injection into the JV by JV ESOP and EShipping ESOP.
At completion, Gold Talent, Cosco Shipping Logistics, JD Logistics, JV ESOP and EShipping ESOP will be interested in the Joint Venture – 22%, 18%, 45%, 11% and 4% respectively.
Cosco Shipping Logistics and EShipping are subsidiaries of China Cosco Shipping, which has 75% indirect controlling interest in the Company.
