(MENAFN) Carlyle Group, the Abu Dhabi's Mubadala-backed
United States private equity firm, is set to invest USD120 million in a Chinese logistics firm, namely Shanghai ANE Logistics Limited (ANE), Arabian Business reported.
The move came as Carlyle Group looks to reap the benefits of the prosperous Chinese e-commerce business. The company said the transaction, funded by its Carlyle Asia Partners IV, is forecast to be sealed in the third quarter.
ANE, established back in 2010, runs distribution centers and franchised stores for smaller "less-than-a-truckload" deliveries of goods between 15 kilograms (33 pounds) to 3 tons.
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