BEST Inc. Completes Merger with Phoenix Global Partners: A New Era in Smart Supply Chain Solutions
Hangzhou, China – March 7, 2025
BEST Inc. (BEST), a prominent provider of integrated smart supply chain solutions and logistics services in China and Southeast Asia, is thrilled to announce the successful completion of its merger with Phoenix Global Partners, an exempted company incorporated under the laws of the Cayman Islands. The merger, which was initially agreed upon on June 19, 2024, under the Merger Agreement, has officially transformed BEST into a wholly-owned subsidiary of Phoenix Global Partners.
A New Chapter for BEST
As a result of the merger, BEST has ceased to be a publicly-traded company. This strategic move is expected to streamline operations, enhance financial flexibility, and accelerate growth in the rapidly evolving smart supply chain and logistics industry.
The Impact on Stakeholders
For BEST’s investors, the merger signifies a potential shift in investment opportunities. With the privatization of BEST, investors will no longer be able to buy and sell shares directly on public markets. However, they may have the opportunity to invest in Phoenix Global Partners, the new parent company, if it decides to offer shares to the public in the future.
For BEST’s customers, the merger may lead to improved services as the combined entity benefits from increased resources, expanded capabilities, and potentially new partnerships. Additionally, BEST’s customers can expect a more integrated and comprehensive suite of smart supply chain solutions.
Global Implications
The merger is not only significant for BEST and its stakeholders but also for the global smart supply chain industry. The consolidation of these two leading players may result in increased competition and innovation, leading to advancements in technology, efficiency, and sustainability.
A Look Ahead
BEST and Phoenix Global Partners are committed to continuing their mission of providing cutting-edge smart supply chain solutions and logistics services. With the combined resources and expertise, the new entity is poised to take on new challenges and opportunities in the dynamic global market.
- Stay tuned for updates on the new company’s strategic direction and growth initiatives.
- Follow BEST and Phoenix Global Partners on their social media channels for the latest news and developments.
- Consider reaching out to the companies for partnership opportunities or to learn more about their offerings.
Conclusion
The completion of BEST’s merger with Phoenix Global Partners marks an exciting new chapter in the company’s history. With the combined expertise, resources, and capabilities, the new entity is well-positioned to lead the way in the smart supply chain and logistics industry. As a stakeholder or interested party, we invite you to join us on this journey as we continue to innovate, grow, and shape the future of global supply chain solutions.
For media inquiries, please contact:
BEST Inc. PR Department
Phoenix Global Partners Media Relations
