Sequoia enters into memorandum of understanding for business combination

Sequoia Logística e Transportes entered into a binding memorandum of understanding with the current shareholders of the MOVE3 Group, JGB III Fundo de Investimento, Newfoundland Capital Management US, LLC and Newfoundland Iron Gestora de Recursos, for a potential business combination. The operation foresees that the company will incorporate the MOVE3 Group and MOVE3 Shareholders will thus become holders of a relevant equity interest in the company.

In a relevant fact sent to the Securities and Exchange Commission (CVM), the company highlights that during the validity of the Binding Memorandum, the parties will evaluate and discuss the structure for implementing the Potential Operation in conjunction with legal, financial and accounting advisors hired for this purpose. .

The MOVE3 Group was founded in 1993 and has established itself in the area of
banking logistics, covering all payment methods. “Over these 30 years, the group has undergone significant technological evolution, becoming the reference in technology and with the highest level of automation and robotization in the segment”, he says.

With a comprehensive presence throughout the national territory, the MOVE3 Group operates with 520 franchised units and employs more than 2 thousand employees, making more than 100 million deliveries per year. The intended business combination will result in a unique logistics network model in the national market, combining best practices in a single group, creating one of the private leaders in the express parcels and logistics solutions segment.