Entry of the strategic investor GLS into the share capital of ACS

General Logistics Systems enters the share capital of ACS Postal Services.

In particular, as Quest Participations states in its announcement, on October 21, 2024 it signed an agreement with GLS for its participation in the share capital of ACS.

In the same announcement, it is noted that GLS is one of the largest parcel services, logistics and express services companies, with activities worldwide, a subsidiary of the IDS group (International Distribution Services.

The basic terms of the agreement

The main terms of the agreement include the following:

Sale and transfer from Quest to GLS of 20% of ACS shares, for a price of 74 million euros.

Right of GLS to buy (“call option”) the remaining 80% of the shares of ACS, either on 31-10-2025, or on 30-10-2026, against a pre-agreed minimum price of 296 million euros.

In the event that GLS does not exercise the above purchase option, the Company will have the right to repurchase from GLS 20% of the ACS shares, through a pre-agreed mechanism.

The Management of ACS until the exercise of the right by GLS will continue to be exercised by the Company.

Completion of the transaction may require approvals from the relevant competition authority, for which the Company and GLS will take all necessary actions.

Financial Advisor of Quest Holdings S.A. for the transaction is AXIA Ventures Group, while the Legal Adviser is Potamitis-Vekris Law Firm.