JD.com announced on the Hong Kong Stock Exchange that it had signed the definitive agreement in August 2020 that the company’s subsidiary JD Logistics would acquire the controlling interest of Kuayue-Express, a well-known modern integrated express company specializing in limited-time express services in China.
The acquisition of the existing shares of Kuayue-Express and the subscription for the new shares issued by Kuayue-Express will cost JD Logistics 3 billion yuan. JD Logistics expects that the transaction will be completed in the third quarter of 2020.
According to Tianyancha, Kuayue-Express was established in August 2007 with a registered capital of approximately 661 million yuan. The company's business covers domestic freight forwarding, cargo transportation information consulting, sea, land, and aviation international Freight forwarding, loading, unloading and handling services, and etc.
Shareholder information shows that the company’s shareholders include Suqian Jingdong Bohai Enterprise Management Co., Ltd., Sequoia Capital, and Eastern Bell Capital.