ANE (Cayman) said on Tuesday a consortium comprising its largest shareholder, Centurium Capital, Temasek and True Light have offered to take it private in a deal valuing the China-based transportation and delivery services group at HK$14.33 billion ($1.84 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% to the company’s last closing price on October 24.
Centurium Capital already owns about 24.32% 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 October 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
