JD Logistics' (HKG:2618) subsidiary Suqian Jingdong Bohai Enterprise Management agreed to acquire 36.43% equity interest in Kuayue-Express Group from the vendors, the current interest holders, for up to 6.48 billion yuan, a Friday Hong Kong bourse filing said.
The vendors include Hu Haijian, Xu Lifeng, Shanghai Hailu, Ningbo Hairui, Ningbo Kuahang and Ningbo Qiaohao.
The purchaser already holds 63.57% of the target and upon completion of the current acquisition, the group will hold a 100% equity interest in the target company.
The group plans to fund the acquisition through a combination of ways including using its own funds, securing external financing, and by issuing consideration shares.
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