China’s retail major unit puts $306m in logistics platform ESR Cayman

Photo: ESR.

The logistics unit of China’s online retail giant has invested $306 million in ESR Cayman, a pan-Asia logistics real estate developer, in a move to broaden its business in key markets across Asia, ESR announced on Tuesday.

The investment comes after JD Logistics raised around $2.5 billion from top private equity and institutional investors, including Tencent and Sequoia China, in February.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter