FedEx, Advent-led consortium to buy parcel locker firm InPost in $9.2 billion deal

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Offer price of 15.60 euros/share implies $9.2 bln valuation

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InPost to expand European reach, give FedEx (FDX) access to its parcel locker network

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FedEx (FDX) and holding firm Advent will own 37% each in InPost

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Shareholders representing 48% of capital committed to deal, at least 80% needed

By Alessandro Parodi, Rafal Wojciech Nowak and Alicja Surdy

Feb 9 (Reuters) - ?A consortium led by FedEx (FDX) and InPost investors has agreed to buy out the parcel locker company in a 7.8 billion euro ($9.2 billion) deal aimed at expanding InPost's reach ?across Europe while giving FedEx (FDX) access to its locker network, the companies said on Monday.

The offer price of 15.60 ?euros per share marks an around 17% premium to InPost's closing price on Friday, ?but it is below InPost's 2021 ?IPO price of 16 euros. The Amsterdam-listed shares opened 14% higher, trading at May 2025 highs.

"InPost and FedEx (FDX) intend to enter into commercialisation agreements that are expected ?to enable both businesses to benefit from complementary strengths and a ?shared vision," Hein Pretorius, chair of InPost's supervisory board, told journalists. The two companies will not integrate their operations and remain independent competitors, he added. InPost last month said it had received an indicative takeover proposal from ?an unnamed party, boosting its shares. The company, which operates ?across nine countries ?including its home market Poland, has one of the largest European networks of automated parcel machines. Since its listing in 2021, it has met tepid market confidence as competition at home intensified and investments aimed at quick expansion ?held back profit growth. A string of deals last year included buying Yodel in Britain and a Spanish delivery company. The European expansion in recent years has largely been financed by revenue and earnings growth in Poland.

Under private ownership, the group will aim to extend its footprint in France, Spain, Portugal, Italy, Benelux and Britain, Europe's largest e-commerce market, the joint statement said. The deal will reduce InPost's dependency on short-term market expectations and allow more efficient strategy implementation, they added. As part of an uncommon ?strategic partnership ?between a major player and private equity companies, FedEx (FDX) and holding firm Advent each will own 37% of the company, InPost CEO Rafal Brzoska's investment vehicle A&R will own 16% and PPF, the investment firm of the ?Czech Kellner family, will hold the remaining 10%.

Advent, A&R and PPF already own stakes in InPost. Advent had bought a majority stake in 2017 but has since reduced its ownership to 6.5%, while A&R and PPF own 12.49% and 28.75%, respectively, according to the InPost website.

The company will continue to be called InPost and maintain its management structure and headquarters in Poland. The parties expect the transaction to be closed in the second half of this year.

They said shareholders representing 48% of outstanding shares have irrevocably committed to the deal, with a minimum acceptance level ?of 80% of its share capital.

"The proposed price is likely to be viewed by most of the market as moderately attractive rather than opportunistic," equity analysts from Erste Group said in a note to investors.

The price may not convince enough minority shareholders, and may possibly be increased, Trigon analysts said ?in their take on the news.

($1 = 0.8445 euros)

(Reporting by Alessandro Parodi, Rafal Nowak and Alicja Surdy in Gdansk, editing by Milla Nissi-Prussak)