China-based online retailer JD.com has agreed to sell a stake in its logistics arm, JD Logistics, for US$2.5 billion to a group of investors including private equity fund managers Hillhouse Capital and Sequoia Capital. China-based strategic investors China Merchants Group, Tencent Holdings and China Life Insurance also participated in the round. The company plans to use the new capital to build global delivery and warehouse networks to support expansion to Southeast Asia, Europe and the United States. JD.com will remain the majority shareholder of JD Logistics with an 81.4 percent stake. The transaction is expected to close in the first quarter of 2018.