Strategic View:
A consortium led by Centurium Capital, joined by Temasek and True Light, has proposed to take ANE (Cayman) Inc. private. The deal values the Chinese logistics firm at $1.84 billion. This club deal reflects the ongoing trend of taking undervalued Chinese firms private to restructure away from market volatility.
Full Story:
In a significant move within the Chinese logistics sector, a consortium comprising Centurium Capital, Singapore’s sovereign fund Temasek, and True Light has launched a privatization bid for ANE, a leading freight network. The offer values the company at HK$14.33 billion ($1.84 billion).
The “Club” dynamic here is strategic. Centurium, a PE firm with deep roots in China, acts as the lead GP. Temasek brings the patient sovereign capital and a seal of good governance. The deal structure offers shareholders a cash exit or a “rollover” option, typical of management-led buyouts. ANE has faced share price pressure despite operational growth, making it a prime target for a take-private club deal.
This transaction is part of a wave of privatizations in Hong Kong, where valuations for industrial and tech companies have lagged behind their intrinsic value. The syndicate likely plans to optimize ANE’s network efficiency and perhaps relist it on a mainland exchange (A-shares) in the future where valuations are often higher.
Why It Matters:
The “China Take-Private” trade is heating up. Syndicates of local PE and global SWFs are picking off undervalued market leaders, betting on long-term domestic consumption growth despite current macro gloom.
Source(s):
Temasek-backed consortium to take China’s ANE private
