JD.com to privatize Dada Nexus in $518m deal

JD.com Inc. [HKEX:9618] announced it will privatize Dada Nexus Limited, through a merger with JD.com subsidiary, Merger Sub. Under the terms of the agreement, Merger Sub will merge with Dada Nexus, with Dada Nexus continuing as the surviving corporation and a wholly-owned subsidiary of JD Sunflower. JD Sunflower will acquire outstanding Ordinary Shares for USD 0.5 in cash per Ordinary Share and has committed to paying cash of up to USD 200 million. The Reporting Persons anticipated to purchase approximately 379 million outstanding Ordinary Shares not owned by the Reporting Persons, for a total deal worth $518 million.