JD.com to “increase overall supply chain efficiency”
JD.com, Inc., China’s technology driven e-commerce company has entered into a definitive agreement under which Jingdong Express Group Corporation, a subsidiary of the Company, will acquire a controlling interest in Kuayue-Express Group Co., LTD. , a modern integrated express transportation enterprise specializing in “limited-time express service” in China.
The deal was made for a total of RMB3 billion through a combination of acquiring existing shares and subscribing for newly issued shares of Kuayue Express, subject to customary closing conditions.
The Company expects to close this transaction in the third quarter of 2020.
Zhenhui Wang, CEO of JD Logistics said: “We are pleased to collaborate with Kuayue Express to provide customers with the best services available.
“Kuayue Express is a reliable delivery services provider and industry leader in express courier services with innovative technology and advanced operations. Collaborating with Kuayue Express advances our integrated supply chain management, technology initiatives and service expansion to third party merchants. We will leverage our respective advantages and the synergy the collaboration creates to enhance the client experience and increase overall supply chain efficiency for JD and society at large.”