The news of JD’s acquisition of Deppon Logistics Co.Ltd(603056) ( Deppon Logistics Co.Ltd(603056) ) landed. This will be another major M & a event in the industry after the acquisition of Baishi China Express business by Jitu.
On March 11, Deppon Logistics Co.Ltd(603056) issued an announcement that the actual controller of the company may change, Cui Weixing will no longer be the actual controller of the company, Debon holdings will still be the controlling shareholder of the company, and JD Zhuofeng controlled by JD group may become the indirect controlling shareholder of the company. The trading of the company’s shares will resume on March 14.
The reporter of securities times · e company learned from JD that the two sides will carry out in-depth cooperation in the fields of express, cross-border, warehousing and supply chain. After the cooperation, the two sides will continue to maintain the independent operation of the brand and team, and the overall strategy and business direction will remain unchanged.
Deppon Logistics Co.Ltd(603056) disclosed the offer report a few hours after the announcement of change of ownership. After the completion of the transaction, JD Zhuofeng will trigger the obligation of comprehensive tender offer. The tender offer price is 13.15 yuan / share, and the number of offers is 277 million tradable shares with unlimited sales conditions.
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Debang will change his surname to “Liu”
The latest announcement reveals the general plan of the change of ownership. Suqian Jingdong Zhuofeng Enterprise Management Co., Ltd. (“Jingdong Zhuofeng”) will realize the control of Debang holdings by transferring some shares of Debang holdings, accepting the entrustment of some shareholders of Debang holdings and obtaining the corresponding voting rights of some shares of Debang holdings, so as to indirectly control 66.5% of the shares of listed companies held by Debang holdings. Therefore, Cui Weixing, the founder, chairman and general manager of Deppon Logistics Co.Ltd(603056) , will no longer be the actual controller of the company.
Jingdong Zhuofeng is a company within the system of Jingdong group. Enterprise investigation shows that JD Zhuofeng was established on November 2, 2020, and the only shareholder is JD logistics supply chain Co., Ltd., which is wholly owned by JD logistics holding limited, and JD logistics (2618. HK) holds 100% equity of JD logistics holding limited.
The programme also has several matters of concern procedure, the above-mentioned transactions still need to be reported to and approved by the Anti Monopoly Bureau of the State Administration of market supervision. In addition, the transaction needs to be reviewed and approved by the shareholders’ meeting of JD logistics, the indirect controlling shareholder of the transferee, and JD logistics supply chain Co., Ltd., the sole shareholder of the transferee.
subsequent arrangements, after the completion of the transaction, JD Zhuofeng will trigger the obligation of comprehensive tender offer, and shall send a comprehensive offer to the shareholders of other listed companies except deppon holdings for their listed common shares circulating without restrictions.
Deppon Logistics Co.Ltd(603056) the latest tender offer announcement shows that the tender offer price is 13.15 yuan / share, and the number of offers is 277 million tradable shares with unlimited sales conditions. In addition, the acquirer has no plan to continue to increase or dispose of the shares of the listed company in the next 12 months.
In order to improve the integration efficiency of JD group’s subordinate logistics business segments, this tender offer aims to terminate Deppon Logistics Co.Ltd(603056) ‘s listing status. However, if Deppon Logistics Co.Ltd(603056) does not terminate its listing status in the end, the validity of this tender offer will not be affected.
this also means that after the transaction is completed, deppon will be integrated into jd.com’s logistics system as a whole
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JD express short board
\u3000\u3000 “Acquiring leapfrog express and winning Deppon Logistics Co.Ltd(603056) , a year and a half later, means that JD logistics has fully entered the express battlefield, which will help the physical industry and rural market of JD logistics; JD logistics will also carry out a series of related party transactions and mergers and acquisitions with the leverage of China’s capital market, which can improve the scale and competitiveness of express business in a short time. Leapfrog express is also possible It will be loaded into Deppon Logistics Co.Ltd(603056) , forming resonance and making up for the weakness of deppon in consumer and air transport resources. ” Express logistics expert Zhao Xiaomin told reporters.
the industry generally believes that for JD, the greatest value of Debang is the express network Deppon Logistics Co.Ltd(603056) started with express business, which is mainly located in large express and medium and high-end express market. It is a full network direct business enterprise scarce in the field of large goods.
In fact, the acquisition did not surprise the market. “The news of the acquisition was spread years ago. At the beginning, deppon was engaged in express transportation, and the service quality in the industry meant a little ‘Shunfeng’. Later, deppon logistics changed its name to deppon express and launched express business, but this transformation did not improve.” The relevant person in charge of an express delivery enterprise told reporters. In the secondary market, Deppon Logistics Co.Ltd(603056) was listed in January 2018, with a market value of nearly 30 billion yuan in the first year of listing at present, Deppon Logistics Co.Ltd(603056) current price is 12.66 yuan / share, and the market value is about 13 billion yuan
It is worth mentioning that Deppon Logistics Co.Ltd(603056) share price rose in advance before the official announcement of the transaction. Previously, on February 27, Deppon Logistics Co.Ltd(603056) announced that deppon holdings was planning major matters related to the change of equity structure, and the trading of the company’s shares was suspended from February 28. On the previous trading day (February 25), the stock gained the daily limit, and rose nearly 20% in the past three trading days.
