JD Group announced on Thursday that it has completed the acquisition of China Logistics Property Holdings (CLPH), which delisted from the Hong Kong stock exchange on Friday. Before the acquisition, JD owned 10.64% of CLPH’s shares. JD first announced the acquisition plan last September, aiming to buy a further 26.38% of the company. It has since expanded the offer to all holders of issued shares and convertible bonds at HK$4.35 ($0.55) per share, due to the exchange’s rule on mandatory acquisition when the acquirer owns 30% of the voting rights. The total purchase price could rise to about HK$16.4 billion. Founded in 2000, CLPH is one of the largest logistics infrastructure developers and operators in China, owning 41 logistics centers and 190 items of logistics infrastructure across 21 Chinese regions, according to its website. By the end of 2021, CLPH’s assets were worth RMB 24.83 billion. [Caixin, in Chinese]


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