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Compulsory acquisition threshold hit for CWT buyout
CHINESE conglomerate HNA Holding Group has hit the 90 per cent compulsory acquisition mark for its S$2.33-a-share offer for logistics firm CWT Ltd.
It intends to exercise its right to compulsorily acquire the remaining shares and delist the firm from the Singapore Exchange, its bankers said in an announcement on Tuesday night.
The final closing date of the offer is Nov 2.
CWT last traded at S$2.33.