Quest Participations signed an agreement with GENERAL LOGISTICS SYSTEMS BV, for its participation in the share capital of ACS POSTAL SERVICES MAEE.
GLS is one of the largest parcel, logistics and express services companies, with operations throughout the world, a subsidiary of the IDS group.
Key terms of the agreement include the following:
- Sale and transfer by the company to GLS of 20% of ACS shares, for a price of 74 million euros.
- GLS’s right to purchase (“call option”) the remaining 80% of ACS shares, on 10/31/2025 or 10/30/2026, against a pre-agreed minimum price of 296 million euros.
- If GLS does not exercise the above purchase option, the company will have the right to repurchase 20% of ACS shares from GLS, through a pre-agreed mechanism.
- The management of ACS until the exercise of the right by GLS will continue to be carried out 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 measures. Quest Holdings SA’s financial advisor for the transaction is AXIA Ventures Group, while legal advisor is Potamitis-Vekris Law Firm.