China's HNA to acquire all CWT shares from 'dissenting shareholders'

Hong Kong

CHINESE conglomerate HNA Group has exercised its legal rights to acquire all shares from "dissenting shareholders" of Singaporean logistics firm CWT Ltd, as it moves to close the US$1 billion acquisition.

HNA Belt and Road Investments Singapore, a HNA group company, will offer S$2.33 per share in cash to the CWT shareholders who have not accepted the tender offer, HNA's financial advisers said in an announcement on behalf of the company on Monday.