Dow Jones Newswires: Chinese e-commerce company to acquire Deppon Logistics for $1.42 billion

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is planning to buy Shanghai-listed Deppon Logistics Co. for 9 billion yuan ($1.42 billion) as part of efforts by the e-commerce company to boost its freight and warehousing network.

JD Logistics will initially buy a 66.50% stake in Deppon Logistics from Deppon Holdco, after which a mandatory offer for the remaining shares will be made at CNY13.15 per share, said Sunday.

“The transaction is subject to a staggered acquisition arrangement and certain customary closing conditions, including relevant regulatory approvals,” the company said.

Deppon Logistics is a trucking and warehousing company in China.

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