Brokers' take
Cache Logistics Trust | Sell Target price: S$0.71 April 11 close: S$0.875 CIMB, April 10
WHAT are the possible implications with the impending takeover of CWT? HNA Holding Group has offered to buy CWT for S$1.4 billion or S$2.33 per share, representing about 13 per cent premium over the stock's last trading price on April 5. CWT prides itself as Singapore's largest homegrown logistics provider.
It is also the sponsor of Cache Logistics Trust. For Cache, CWT and ARA Asset Management own 40 per cent and 60 per cent of the Reit manager respectively; and 60 per cent and 40 per cent of the property manager respectively.
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