The JD.com subsidiary is set to pay $432m for a majority stake in the GLP-backed logistics services provider through a mixture of primary and secondary investment.

Kuayue Express, a China-based delivery services provider backed by logistics property developer GLP, agreed to sell a controlling interest to JD Logistics, a subsidiary of e-commerce group JD.com, yesterday for RMB3bn ($432m).

The deal is expected to close in the third quarter of 2020 and will involve JD Logistics acquiring both existing and newly issued shares in Kuayue Express.

Founded in 2007, Kuayue Express has built an integrated logistics network with services ranging from same-day delivery and intra-city shipping to…

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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
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