Fosun, Legend Capital to invest in Yunda Express
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Founded in 1999, Shanghai Yunda Express Co., Ltd. now has over 3,000 service outlets around the country. |
China's largest private conglomerate, Fosun Group, and Lenovo's investment arm, Legend Capital, are to join hands to inject capital into Shanghai Yunda Express Co., Ltd., China Business News reported Thursday, citing sources close to the matter.
The two sides are currently in talks about the fund injection, the newspaper said.
Two unnamed executives interviewed by the newspaper didn't deny the fund injection. Yunda is bringing in outside capital to accelerate its development, the executives said.
Established in 1999 in Shanghai, Yunda currently has more than 3,000 service outlets. The company ranks the third in the industry in terms of size of delivery network and volume, after STO Express and YTO Express.
Yunda moved into the black in 2003 and has made a profit for eight years in a row.
China's business press carried the story above on Thursday. China.org.cn has not checked the stories and does not vouch for their accuracy.
