JD.com Acquiring Majority Stake in Chinese Logistics Company

Eric Volkman, The Motley Fool
·2-min read
JD.com Acquiring Majority Stake in Chinese Logistics Company

Top Chinese e-tailer JD.com (NASDAQ: JD) is doing a bit of shopping of its own. The company announced Friday that it has signed an agreement to buy a controlling stake in Kuayue-Express Group, a privately held logistics business. The deal is valued at 3 billion yuan ($365 million), with which JD.com will buy both existing and newly issued shares of Kuayue.