JD.com buys Walmart's stake in Dada

2024-09-18 06:49:02

Asia Tech Wire (Sep 18) -- Chinese delivery firm Dada Nexus disclosed on Monday that JD.com has completed the purchase of 87,481,280 ordinary shares and 1,875,000 American depositary shares (ADSs) in Dada held by a Walmart subsidiary.

Thus, JD.com has acquired all of Walmart's holdings in Dada, increasing its stake to 63.2%.

Dada said it hopes to continue to develop mutually beneficial and win-win business cooperation with Walmart.

As of the end of March 2024, JD.com held a 53.1% stake in Dada, while Walmart held a 9% stake.

Walmart JD.com

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