JD Property, the Chinese e-commerce giant's infrastructure management unit, will buy the 26 per cent stake in the company currently held by the China Logistics chairman Li Shifa.
The deal reflects increasing competition to dominate e-commerce in China, with assets like warehouses in high demand from enterprises vying to capitalise on the rising prosperity of the country's consumers.
RRJ Capital, Joy Orient Investments and Anbang Investment Holdings gave irrevocable offerings for their own shares and convertible bonds. The buyer will be required to launch a mandatory tender offer for China Logistics. Assuming that all the bonds are converted and the offer is accepted in full, the maximum price of the acquisition is about $2.1 billion.