J&T Global Express (HKG:1519) said it agreed to acquire nearly 37% of Jet Global from its partners for $950 million, according to a Hong Kong bourse filing Sunday.
Shares of the logistics company fell nearly 2% in midday trade.
J&T Global already holds 63.81% of Jet Global on a non-diluted basis.
Meanwhile, the firm agreed to acquire 46.55% of JNT Express KSA from eWTP Arabia Technology for $106 million.
J&T already owned 53.45% of JNT Express KSA and the acquisition will give the company full ownership of the business.
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