Retailer Suning Commerce plans to buy Hangzhou-based Tiantian Express in a deal worth around 4.25bn yuan ($612m). According to the China Daily, Jiangsu Suning Logistics Co Ltd (Suning’s logistics affiliate) agreed on 30 December to buy initially 70% of Tiantian Express for 2.975bn yuan, and to buy the remaining 30% of the company for 1.275bn yuan within the next 12 months.
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