JD Property (JD) Acquires HK$3.99B Stake in China Logistics Property Holdings

JD Property Group Corporation, an indirect non-wholly owned subsidiary of JD.com, Inc. (NYSE: JD), entered into a sale and purchase agreement with Mr. Li Shifa, the chairman and executive director of China Logistics Property Holdings Co., Ltd, and Yupei International Investment Management Co., L, a company 90% owned indirectly by Mr. Li Shifa, pursuant to which Yupei International has conditionally agreed to sell, and JD Property has conditionally agreed to acquire, 916,488,000 shares of CNLP, representing approximately 26.38% of the issued share capital of CNLP, for a total consideration of HK$3,986,722,800 in cash, representing a value of HK$4.35 per share (the “Transaction”). CNLP is principally engaged in the leasing of storage facilities and the related management services in the PRC and listed on the Main Board of the Hong Kong Stock Exchange under the stock code 1589.

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