Chinese e-commerce giant JD is investing $546 million in online grocer Dada Nexus after obtaining regulatory approvals, according to a statement from Dada. Upon completion of the deal, JD will hold 52% of Dada’s shares, taking into account its existing holdings. The deal was first announced in March 2021, when the companies said the price for roughly the same amount of shares would be $800 million. While Dada explained that the overall value of the deal has not changed, instead of a cash-focused deal, JD will invest more “strategic resources”, such as support for on-demand e-commerce business, to deepen the partnership between the two platforms. Last March, Dada priced its new share offerings to JD at $29 apiece based on its stock price then. The company’s price has since dropped to around $10. [Dada press release]