Best inc. enters into definitive agreement for "going private" transaction

Hangzhou, china , june 20, 2024 /prnewswire/ -- best inc. (nyse: best) ("best" or the "company"), a leading integrated smart supply chain solutions and logistics services provider in china and southeast asia, today announced that it has entered into an agreement and plan of merger (the "merger agreement") with best global partners, an exempted company with limited liability incorporated under the laws of the cayman islands ("parent") and phoenix global partners, an exempted company with limited liability incorporated under the laws of the cayman islands and a wholly-owned subsidiary of parent ("merger sub"). pursuant to the merger agreement, merger sub will merge with and into the company, with the company continuing as the surviving company and becoming a wholly owned subsidiary of parent (the "merger"), in a transaction implying an equity value of the company of approximately us$54.2 million.
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