Kingdom Holding leads consortium for acquisition of China firm stake

16/02/2013 ِArgaam

Kingdom Holding Company (KHC) led a consortium of investors for the acquisition of a share of 360Buy Jingdong Inc in China for the value of SR1.5 Billion. The investment by KHC in this deal was SR469 Million (USD 125 million) which was financed by debt. The deal was completed on Thursday February 14th 2013. 
360buy Jingdong Inc. is the largest B2C direct sales e-commerce company in China. The Company has achieved more than 150% annually compounded growth in gross merchandise volume during past several years. It currently offers more than 7 million SKUs through its B2C direct sales and online marketplace platform. As of December 2012, the Company has six major fulfillment centers with 65 warehouses in 24 cities, as well as nearly 900 delivery stations in 360 cities. Through its 211 program, the Company offers speedy delivery in 23 major cities and 24 hours delivery in 156 cities in China. Their active users are 35 million and registered users 80 million as of December 2012.

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