Dada Nexus has announced a merger agreement with its parent company, JD Sunflower Investment Limited, and JD Sunflower Merger Sub Limited, a wholly-owned subsidiary of the parent company. As per the agreement, Merger Sub will merge into Dada Nexus, making Dada a wholly-owned subsidiary of JD.com. Upon the merger's completion, Dada's American Depositary Shares (ADS) will be canceled.
The special committee of Dada's board has unanimously approved the transaction, which is expected to be finalized in the third quarter of 2025. JD.com, which holds over 60% of the voting power, intends to vote in favor of the merger. Kroll is advising Dada's special committee, while UBS is providing advisory services to JD.com.
