InPost tender offer secures 89.81% shareholder backing in 7.8 billion euro buyout

Tender offer results and terms

The public tender offer for InPost concluded on 18 September 2026, securing tenders for 89.81% of the company's share capital with 448,981 shares submitted. This result surpasses the mandatory acceptance threshold of 80% set by the bidding consortium. The consortium, comprising private equity firm Advent International, logistics corporation FedEx, Rafał Brzoska's investment vehicle A&R Investments, and Czech group PPF, offered 15.60 euros per share. That price values the parcel locker and logistics operator at 7.8 billion euros, which equals approximately 33 billion Polish zlotys. The offer delivers a 53% premium over the three-month volume-weighted average share price prior to 2 January 2026, as well as a 43% premium over the six-month volume-weighted average price before that same date.

Regulatory approvals and closing schedule

The acquisition framework was established in February 2026 before the consortium formally announced its tender offer in May 2026. The initial subscription window was scheduled to end on 27 July 2026, but the buyers extended the acceptance period to 18 September 2026 to complete required antitrust proceedings. The European Commission granted antitrust approval in mid-August 2026 after examining whether combining InPost and FedEx activities would restrict competition in courier services and out-of-home parcel deliveries. The Vietnamese competition authority approved the transaction two weeks after the European Commission ruling. Under the established timetable, the consortium will announce by 23 September 2026 whether it declares the offer unconditional under Dutch law, known as gestand doen.

Consortium structure and delisting plans

The transaction is supported by fully secured financing, with consortium members providing 5.9 billion euros in binding equity commitments alongside long-term debt from a broad banking syndicate. Prior to this buyout, InPost's main shareholders included PPF Group with 28.75%, A&R Investments with 12.49%, and Advent International with 6.50%, along with Norges Bank. Once the buyout concludes, FedEx and Advent will each hold 37% equity stakes in the acquiring consortium. A&R Investments will hold 16% of the consortium, while PPF Group NV will retain 10%. The consortium plans to delist InPost shares from the Euronext Amsterdam stock exchange. If ownership remains below 95%, the buyers plan a subsequent corporate asset transfer and liquidation, whereas reaching 95% would allow a statutory squeeze-out of minority shareholders.

Corporate governance and European expansion

InPost will preserve its operational independence and existing business model under the new ownership structure. The main operational headquarters and core management team will remain permanently based in Poland. Rafał Brzoska will retain his position as chief executive officer and president of the management board to continue directing company operations. The consortium committed to funding InPost's ongoing expansion across key European markets, including France, Spain, Portugal, Italy, the Benelux countries, and the United Kingdom, which is the largest e-commerce market in Europe. Capital will also support ongoing investments into the consumer mobile application and deeper partnerships across the wider e-commerce logistics chain.