Shareholders give green light to HNA's $1B bid for CWT
September 08, 2017
Logistics | Singapore | Corporate Acquisition
Shareholders of Chinese conglomerate HNA have approved a bid from subsidiary HNA Belt and Road Investments for logistics company CWT at SGD $2.33 (about $1.74) per share, valuing the company at SGD $1.4 billion, per Reuters. Working with the commodity, chemical, industrial, marine and food & beverage sectors, CWT owns and leases approximately 10.3 million square feet of warehousing space in Singapore.