HNA Holding Group S$1.4 billion acquisition of CWT Group

Overview:

• Chinese conglomerate HNA Holding Group (HNA) has offered to acquire listed Singaporean logistics firm CWT for S$1.4 billion.
• HNA has businesses in sectors ranges from aviation to financial services, while CWT operates across a network of 90 countries and is listed in Singapore. 
• CWT's logistics expertise and commodity trading and financial services network will enable HNA to tap into logistics, engineering, financial services and commodity trading sectors over the 90 countries where CWT has regional offices.
• HNA is an investment holding company active in property investment, management and development.
• CWT was incorporated in 1970 as a private arm of the Port of Singapore Authority to provide warehousing and container trucking services. The company has been listed on SGX-ST since April 12 1993 and is a leading provider of integrated logistics solutions. It is also one of the largest owners and managers of warehouse and logistics real estate assets in Singapore. 

Wai Yee Tsang - Journalist