bpost group announces that a binding takeover agreement for Ubiway Retail was signed with Golden Palace Group
bpost, Ubiway and Golden Palace entered into a binding agreement on the sale of 100 % of the shares of Ubiway Retail SA/NV, the integrated retail network operating Press Shop, Hubiz, Ubi and Relay brands (170 stores) to Golden Palace. Two members of the current management of Ubiway Retail will also become shareholders of the company. The closing of the transaction is expected to take place by the end of February 2022.
bpost said: “The Ubiway Retail activities were no longer core to bpost strategy as bpost group is focusing on the acceleration of its transformation into an international e-commerce logistics player.
Golden Palace wants to diversify its activities and intends to further develop the Ubiway Retail network.”
bpost was advised by Degroof Petercam for this transaction.