HNA Group makes conditional general offer for CWT
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HNA is offering S$2.33 in cash for each CWT share, in a deal that values one of Singapore's largest logistics groups at about S$1.4 billion.
PHOTO: AFP
Marissa Lee
SINGAPORE - Chinese conglomerate HNA Group on Thursday (Sept 7) made a conditional general offer for Singapore-listed logistics provider CWT, after tabling a pre-conditional offer in April.
The formal offer follows the satisfaction of certain pre-conditions earlier agreed upon, including the approval of HNA Holding Group's shareholders and the receipt of certain anti-trust approvals from China.
HNA is offering S$2.33 in cash for each CWT share, in a deal that values one of Singapore's largest logistics groups at about S$1.4 billion.
CWT's independent directors have appointed Ernst & Young Corporate Finance as the independent financial adviser to advise them on the offer.
