Big deal over China Logistics
The real estate affiliate of the major e-commerce player JD.com has purchased a controlling stake in the Hong Kong-listed China Logistics Property Holdings (CNLP) with a portfolio of 65 distribution centres and logistics parks. The 26.38% stake in the company currently belongs to China Logistics chairman Li Shifa.
The JD Property Group already owns more than 9% of CNLP and now offered HKD 3.99 billion (USD 513.45 million), or HKD 4.35 per share, representing a 4% premium to CNLP’s recent closing price of HKD 4.05. JD.com's CEO Richard Liu also announced that he will step back from the daily business and hand over the operations to the new president Xu Lei. (cd)