$INPOF

A consortium including Advent, FedEx, A&R, and PPF plans to raise at least €1.9 billion through a term loan and secured notes to finance their acquisition of InPost. InPost is also offering to repurchase its 2031 Senior Notes and amend their terms. The financing is subject to market conditions and is expected to settle around 9 October 2026.

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A consortium led by FedEx and Advent International acquired InPost for €7.8B, offering €15.60 per share. The deal values InPost at 50% above its January closing price but below its 2021 IPO level. Post-acquisition, InPost will delist from Amsterdam. FedEx and Advent will each own 37%, with founder Rafal Brzoska retaining 16%. The consortium plans to delist InPost from public trading in Amsterdam, with potential for a squeeze-out if ownership reaches 95%.

InPost, a Polish parcel locker operator, reported that 89.81% of its shares were tendered in a takeover offer by a consortium including FedEx and Advent International. The offer, agreed in February, values InPost at €7.8 billion ($8.95 billion) with an all-cash offer of €15.60 per share. InPost shares will be delisted from Euronext Amsterdam post-transaction.

FedEx priced $1.1B and €2B in senior notes, adding $3.43B in gross funding. The bonds have varying maturities and interest rates. Proceeds may be used for general corporate purposes, including debt repayment. FedEx plans a €2.2B investment in InPost, but bond proceeds are not earmarked for this. FedEx reported $13.31B in cash, $23.46B in long-term debt, and $8.93B in operating cash flow.

InPost reported first-half revenue of €1.89B, up 24%, with 740M shipments. Adjusted EBITDA grew just 0.3%. International revenue was 54% of total. Q2 beat forecasts but margins fell 3.3 points. 2026 EBITDA outlook cut due to higher costs. FedEx-Advent €7.8B takeover offer pending.

InPost Group reported a 30% drop in Q2 net profit to PLN 93 million, citing UK turnaround delays and rising costs. Revenue grew 18% to PLN 4.18 billion, but adjusted EBITDA rose only 4.4% to PLN 1.04 billion. The company cut its 2026 profit outlook, expecting a mid-single-digit decline in adjusted EBITDA. CEO Rafal Brozka noted the UK business is still a work in progress.

The European Commission approved the takeover of InPost, with shareholders to receive €15.60 per share, valuing the company at €7.8bn. The deal, agreed in February 2026, awaits Vietnamese regulatory approval and is set to close by 18 September 2026. FedEx and Advent International will each hold 37% in the consortium.

InPost said it partnered with Urban Outfitters to add InPost Lockers and Shops as a UK delivery option at Urban Outfitters checkout. The deal lets customers collect online orders from InPost’s network of more than 15,000 lockers, available 24/7. InPost cited delivery-miss and failed-first-attempt rates to support the convenience.