J&T Express completed the acquisition of the express business of BEST for $600m.

J&T Express, a freight service e-commerce company, completed the acquisition of the express business of BEST, a logistics supply chain service provider, for $600m. "We are pleased with the outcome of this transaction. Its successful culmination allows us to further prioritize and reinforce our efforts in supply chain-based logistics solutions while also significantly improving our balance sheet and profitability. Moving forward, we will firmly center our business on three key pillars – integrated supply chain, freight and global logistics services. We are confident that focusing on these core competencies will enable us to deliver enhanced value for our customers and shareholders," Johnny Chou, BEST Founder, Chairman and CEO.