Temasek-backed consortium to take China’s ANE private at HK$14.33 billion valuation
[SINGAPORE/HONG KONG] ANE (Cayman) said on Tuesday (Oct 28) a consortium comprising its largest shareholder, Centurium Capital, Temasek Holdings, and True Light have offered to take it private in a deal valuing the transportation and delivery services group at HK$14.33 billion (S$2.4 billion).
Under the proposal, shareholders can opt for a cash consideration of HK$12.18 per ANE share or a share alternative, or a combination of both.
The cash consideration is at a premium of 29.6 per cent to the company’s last closing price on Oct 24.
Centurium Capital already owns about 24.32 per cent of ANE’s shares, while Temasek and True Light do not currently hold any stake in the company.
Earlier this month, ANE had received a conditional proposal from the consortium but the indicative offer price was not disclosed at the time.
ANE’s shares went on a trading halt on Monday and the company said it had applied to the stock exchange to resume trading on Oct 30.
ANE operates one of China’s largest less-than-truckload logistics networks, serving e-commerce and industrial clients.
The company, listed in Hong Kong in 2021, runs thousands of line-haul trucks and trailers across China. REUTERS
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