JD.com Announces Financing Agreements for JD Logistics

BEIJING, Feb. 14, 2018 (GLOBE NEWSWIRE) — JD.com, Inc. (NASDAQ:JD), China’s largest retailer, today announced that it has entered into definitive agreements for the financing for its logistics subsidiary, JD Logistics, with investors including Hillhouse Capital, Sequoia China, China Merchants Group, Tencent, China Life, China Development Bank Capital FOF, China Structural Reform Fund and ICBC International, among others. The total amount raised in this round is expected to be approximately $2.5 billion.

After the completion of this transaction, JD.com will remain the majority shareholder of JD Logistics with an 81.4% stake. The financing is expected to close in the first quarter of 2018, subject to customary closing conditions.

Richard Liu, Chairman and CEO of JD.com, said, “Our decision early on to build out our own logistics network has paved the way for JD Logistics to become the industry leader it is today. The …

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