CITIC Capital Holdings Limited, Oriza Holdings and China Merchants Group have formed an investor consortium to invest in S.F. Express. The investor group will acquire no more than 25% of the Shenzhen-based logistics company.
CITIC Capital is making the investment through its first RMB fund, CITIC Capital (Tianjin) Equity Investment Partnership.
In a company announcement, CITIC Capital says the deal could be one of the largest RMB equity transactions this year. But the company didn’t disclose any valuation details because of confidentiality agreement.
CITIC Capital says the deal is a recognition of the attractive macroeconomic factors that supported the growing express delivery industry. It also demonstrated S.F. Express’ industry leading position and strong business model.
Founded in 1993, S.F. Express is one of the largest privately run express delivery services company in China, providing domestic and international delivery solutions. The company has over 6,000 service centers, covering more than 300 large and medium-sized cities and over 1,900 county-level cities or districts in China. The company also has coverage of other Asian countries and the U.S.
Established in 2002, CITIC Capital is an alternative investment management and advisory company. The firm manages over US$4 billion investing in private equity, real estate, structured investment & finance, asset management and venture investment. CITIC Capital currently employs over 200 staff members throughout its offices in Hong Kong, Shanghai, Beijing, Tokyo and New York.