Shentong Express: De'e Industry plans to transfer its 25% stake to Cainiao Supply Chain for RMB 3.878 billion

Tech 2023-06-06 11:16:55 Source: Network

On June 6th, Shentong Express released a notice stating that on June 5th, 2023, Shentong Express Co., Ltd

On June 6th, Shentong Express released a notice stating that on June 5th, 2023, Shentong Express Co., Ltd. received a notice from its shareholder Shanghai De'e Industrial Development Co., Ltd. De'e Industrial signed a "Share Transfer Agreement for Shentong Express Co., Ltd." with Zhejiang Cainiao Supply Chain Management Co., Ltd, De'e Industry plans to transfer its approximately 383 million unsold shares of Shentong Express to Cainiao Supply Chain through an agreement transfer, accounting for 25% of the total share capital of Shentong Express.

The announcement shows that both De E Industrial and Cainiao Supply Chain are companies controlled by Alibaba Group Holdings Limited through relevant shareholding entities. This agreement transfer belongs to internal transfers of different entities under the same control. According to the agreement, the transfer price per share is 10.134 yuan, and the total transfer price is 3.878 billion yuan.

According to the announcement, after the completion of this transfer, De'e Industry will no longer hold the shares of Shentong Express, and Cainiao Supply Chain will hold 25% of the shares of Shentong Express.

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