HNA Group is looking to add another missing piece of the puzzle to fulfil its ambition to become a global logistics powerhouse after it agreed to acquire CWT, the Singapore-listed integrated logistics and supply chain management company, for S$1.4 billion $981 million.
The acquisitive Chinese conglomerate rounded off a prolonged discussion process on Sunday by making a S$2.33-a share offer through its Hong Kong-listed subsidiary HNA Holding Group, ending talk that the deal might be scrapped due to Beijing’s stepped-up efforts to rein in capital outflows.
The offer represented a 12.5% premium over Thursday's closing share price and prompted a 9.2% jump to S$2.26 on...
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