InPost S.A. (ENXTAM:INPST) intends to acquire Mondial Relay from Otto (GmbH & Co KG) for approximately €510 million on March 15, 2021. InPost S.A. signed a binding agreement to acquire Mondial Relay from Otto (GmbH & Co KG) on April 6, 2021. The consideration will be paid in cash and would be fully debt-funded through a new committed 12-month bridge facility, provided by a consortium of seven banks. At the discretion of InPost, it has the option to extend the facility for an additional 12 months. In the twelve months to December 31, 2020, Mondial Relay achieved revenues of €437 million and Operating EBITDA of €60 million. InPost's proposed acquisition of Mondial Relay also includes the Group's activities in Belgium, Luxembourg, the Netherlands, Portugal, and Spain. The partnership will not impact the further activities of Hermes France Holding SAS. The operational management of Mondial Relay is to be continued by the current successful executive team. Its existing collaborations with business partners and corporate clients will also remain unaffected. The proposed acquisition is subject to consultation with the Workers’ Council of Mondial Relay, companies’ respective committees and the subsequent signing of the transaction agreement. The transaction is also subject to customary closing conditions, including the receipt of regulatory approvals including corresponding antitrust authorities. As on April 7, 2021, transaction is subject to regulatory approval and is unanimously approved by the Workers’ Council of Mondial Relay. Upon closing of the proposed acquisition, the proportion of InPost’s International revenue and Operating EBITDA would increase to approximately 44% and 18% respectively. Approximately €100-150 million of incremental EBITDA enhancements are identified over the medium term. The proposed acquisition is immediately earnings and cashflow accretive. Subject to the completion of the proposed acquisition, and on a pro-forma basis, InPost's net leverage is expected to reach approximately 3.5x. InPost would target to return to a net leverage ratio of approximately 2.0–2.5x within 18-24 months following the completion of the proposed acquisition, while continuing planned investments in Poland and the UK. The transaction will be finalized by the end of the second quarter of 2021. Citigroup Global Markets Europe AG and Goetzpartners acted as financial advisors to InPost. Laurent Victor-Michel, Nadine Gelli, Matthew Sinclair-Thomson, Adrian Maguire, Nadine Gelli, Sonia Bouaffassa, Matthew Sinclair-Thomson, Shahrzad Sadjadi, Samantha Jones, John Patten, Ben Zeris and Ben Leyendecker of Kirkland & Ellis acted as legal advisors to InPost. Norbert Rieger, Sebastian Heim, Rolf Füger and Alexander Rinne of Milbank LLP acted as legal advisors to Otto (GmbH & Co KG). Florent Steck, Grégoire Didier and Issa Sy of KPMG Transaction Services acted as financial due diligence advisors while Mathieu Gautier, Jérôme Talleux, Laurent Chetcuti, Anne-Laure Benoist and Jean-David Parent of KPMG Avocats acted as tax due diligence advisors to InPost. Karl Hepp de Sevelinges, Ruben Koslar, Nicolas Martin, Jean-Guillaume Follorou, Gabriel di Chiara and Laetitia Ternisien of Jeantet acted as legal advisers for Otto. Alexandra Rohmert of CMS Francis Lefebvre Avocats acted as legal advisor to InPost S.A. InPost S.A. (ENXTAM:INPST) completed the acquisition of Mondial Relay from Otto (GmbH & Co KG) on July 1, 2021.