HNA launches offer for CWT

Source:Reuters-Global Times Published: 2017/9/10 22:38:40

Chinese conglomerate HNA Holding Group Co on Thursday launched a bid to buy Singapore-based logistics company CWT for $1 billion, after getting a green light from its shareholders.

HNA unit HNA Belt and Road Investments (Singapore) Pte offered S$2.33 ($1.74) per CWT share, valuing the deal at S$1.399 billion.

CWT, incorporated in 1970 as a private arm of the Port of Singapore Authority, has interests that include logistics services, commodity marketing, financial services and engineering services.

HNA first announced its intent to buy CWT in April.

Posted in: COMPANIES

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