JD.com Subsidiary Completes Acquisition of CNLP
On July 14, Chinese e-commerce firm JD.com announced that its subsidiary, JD Intelligent Industry Development Group, had completed its compulsory acquisition of China Logistics Property Holdings (CNLP).
CNLP is listed on the main board of the Hong Kong Stock Exchange. After this acquisition, all remaining shares of CNLP have been transferred to JD Intelligent Industry Development Group, and CNLP has become its wholly-owned subsidiary.
The last trading day of CNLP on the Hong Kong Stock Exchange was June 24, and the shares of CNLP Assets will be delisted from July 15.
CNLP is a logistics infrastructure development platform with joint investment from Yupei International, RRJ Capital and JD.com in China. Founded in 2000 and headquartered in Shanghai, it is one of the largest logistics infrastructure developers and operators in the country. Its business covers the fields of logistics infrastructure design, development, leasing, operation and management. The company mainly serves customers in the fields of production, retail, e-commerce and logistics services.
SEE ALSO: JD.com Founder Richard Liu Drops $279M in Company Stocks
By December 2020, CNLP had managed and operated 65 logistics parks in 45 cities in China, with a logistics asset portfolio (including those under construction and to be developed) exceeding 6,200,000 square meters, forming an efficient logistics facility network covering major logistics hubs.