China's JD Logistics agrees to buy courier company Deppon

Chinese e-commerce giant JD.com Inc on Sunday said that its subsidiary JD Logistics Inc has agreed to buy domestic courier Deppon Logistics Co Ltd.

Under the deal, JD Logistics will acquire 99.99% equity stake in Deppon Holdco for a total consideration of about 9 billion yuan ($1.42 billion). Deppon Holdco owns a total of about 66.50% of Deppon Logistics.

JD Logistics will then make an offer for all the issued shares of Deppon Logistics not held by Deppon Holdco, for 13.15 yuan per share.