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CWT gets $2.33 per share offer from HNA; acquisition deal valued at $1.4 bil

PC Lee Published on Mon, Apr 10, 2017 / 1:31 AM GMT+8

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SINGAPORE (April 10): China’s HNA Holding Group Co. is making an offer to acquire logistics firm CWT for nearly $1.4 billion.

In a regulatory filing on Sunday night, HNA announced that its subsidiary HNA Belt and Road Investments (Singapore) plans to purchase 600 million CWT shares at $2.33 apiece.

This values the acquisition deal at nearly $1.4 billion.