BEST Inc. Sells its Express Business in China to J&T Express – KWM

In October 2021, BEST Inc. (“BEST”, NYSE: BEST) announced that it has agreed to sell its express delivery business in China to J&T Global Express Limited (“J&T Express”) at approximately RMB 6.8 billion enterprise value. This transaction was closed successfully on December 17, 2021. This transaction allows BEST to better capitalize on its strengths by focusing on supply chain-based logistics solutions and providing integrated supply chain, freight and global logistics services to customers.

BEST, founded in 2007, is a leading integrated smart supply chain solutions and logistics services provider in China. Through its proprietary technology platform and extensive networks, BEST offers a comprehensive set of logistics and value-add services. Up to now, BEST has launched business in 12 countries, including China, the United States, Thailand, the United Kingdom, France, Korea, Malaysia, Italy, Vietnam, Laos, Singapore and Cambodia.

King & Wood Mallesons (“KWM”) acted as the legal counsel to BEST Inc. in this transaction. KWM participated in the whole process of the early-stage preparation, transaction structure design, drafting of transaction documents, negotiations, anti-monopoly declaration, works related to intellectual properties, closing and other relevant parts, providing our client with professional and efficient one-stop services. This transaction is another milestone project completed by KWM after BEST’s successful listing on the New York Stock Exchange in 2017 as BEST’s PRC legal counsel.