(Reuters) -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 offer is at a premium of 48.5% from the firm’s closing price on September 3 – deemed the undisturbed premium – before irregular trading volumes and price movements in the stock, the company said.
Trading in shares of the company was halted on September 18, a day after it initially received the takeover proposal, and resumed on October 17 after it was made public for the first time.
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.
ANE’s shares went on a trading halt again on Monday pending details of the take-private offer 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.
($1 = 7.7675 Hong Kong dollars)
(Reporting by Sherin Sunny in Bengaluru; Editing by Savio D’Souza, Maju Samuel and Krishna Chandra Eluri)
