HNA to take over Singaporean warehouse operator CWT
Chinese conglomerate HNA has made a formal offer for its $1.4 billion privatisation offer for Singaporean warehouse operator CWT, following a general meeting to seek shareholders' approval.
Chinese conglomerate HNA Holding Group has made a formal offer for its S$1.4 billion privatisation offer for CWT Limited, following a general meeting on Thursday to seek shareholders' approval to go ahead with the deal.
The general offer of USD 2.33 in cash for a share of the Singapore-listed logistics group was made through HNA Holding's wholly owned subsidiary, HNA Belt And Road Investments (Singapore) Pte Ltd - an investment holding company incorporated in Singapore for the purpose of this offer.
The offer document, which will contain the terms and conditions of the offer and enclose the appropriate forms of acceptance, will be despatched to shareholders not earlier than 14 days and not later than 21 days from Thursday.
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