UPDATE 2-China's ANE gets take-private offer from Temasek-backed consortium

(Updates share moves, adds details and company background) Oct 17 (Reuters) – ANE (Cayman) said on Friday it received a conditional take-private offer from a consortium comprising its largest shareholder Centurium Capital and Singapore's Temasek, which could lead to its delisting from the Hong Kong Stock Exchange. The Chinese transportation and delivery services company said in a stock exchange filing that the indicative proposal was submitted on September 17 and involves Centurium Capital, which already owns about 24.32% of ANE's shares, and entities linked to Singapore state investor Temasek and True Light Capital. The consortium's indicative offer amount has not been disclosed. ANE shares dropped as much as 26% to HK$7.50 after trading resumed in the afternoon, before recouping some losses to HK$9.02 in early afternoon trade, still down 11.05%. Temasek and True Light currently hold no shares in ANE, according to the filing. The company added that talks are at an early stage and there is no certainty the proposal will result in a formal offer. The consortium is working with advisers on the take-private proposal, but the negotiations have been challenging, said people with knowledge of the potential transaction, who declined to be named as the information was confidential. "While the Board is still considering the Indicative Proposal, the outcome of the negotiations on the Indicative Proposal remains uncertain, and there is no certainty that the Indicative Proposal will ultimately lead to an Offer (as defined in the Takeovers Code) being made in relation to the shares," ANE said in the filing. Before trading resumed, ANE held a market capitalization of $1.53 billion. Shares had climbed almost 27% year-to-date prior to the sharp decline on Friday, according to data compiled by LSEG. Besides Centurium Capital, its top shareholders include CDF Ane Ltd, Great Vision and Qin Xinghua, the data showed. Founded in 2010, ANE operates one of China's largest less-than-truckload logistics networks, serving e-commerce and industrial clients. It listed in Hong Kong in 2021 and runs thousands of line-haul trucks and trailers across the country. (Reporting by Sherin Sunny in Bengaluru, Yantoultra Ngui in Singapore and Kane Wu in Hong Kong; additional reporting by Donny Kwok in Hong Kong; Editing by Rashmi Aich and Sherry Jacob-Phillips)

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