JD Property Group Corporation entered into a sale and purchase agreement to acquire an additional 26.4% stake in China Logistics Property Holdings Co., Ltd (SEHK:1589) from Yupei International Investment Management Co., Ltd. for HKD 4 billion on September 1, 2021. Under the terms, consideration is HKD 4.35 per share in cash. Upon Completion, JD Property and parties acting in concert with it will become interested in 37.02% of the issued share capital of China Logistics.

Subject to and upon Completion, JD Property will be required pursuant to the Hong Kong Code on Takeovers and Mergers to (i) make an offer for all the issued shares of China Logistics. Completion of the Transaction (“Completion”) is subject to certain closing conditions and procedures (including regulatory approvals). Joey Chau, Manas Chandrashekar and Karen Ho of Kirkland & Ellis acted as legal advisors to JD Property Group Corporation.

UBS Financial Services Inc. acted as a financial advisor to Yupei International Investment Management Co., Ltd. BofA Securities, Inc. acted as financial advisor to JD Property Group Corporation.