On Feb 14th, JD.com announced that it has entered into definitive agreements for the financing for its logistics subsidiary, JD Logistics, with investors including Hillhouse Capital, Sequoia China, China Merchants Group, Tencent, China Life, China Development Bank Capital FOF, China Structural Reform Fund and ICBC International, among others.
According to the agreement, the total amount raised in this round is $2.5 billion. After the completion of this transaction, JD.com will remain the majority shareholder of JD Logistics with an 81.4% stake. The financing is expected to close in the first quarter of 2018, subject to customary closing conditions. This is also the single largest fundraising in China's logistics industry.
Source: Zhejiang News App