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China firm in advanced talks to buy CWT

Sources say exclusivity pact could be signed within a week; sale to HNA would trigger GO

Published Fri, May 6, 2016 · 09:50 PM
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Singapore

SHARES of CWT rose on Friday on news that the controlling shareholders are in advanced talks for a potential sale of their stakes to China's HNA Group, which could trigger a general offer (GO) if a deal consummates.

An exclusivity agreement between the controlling shareholders and HNA could be signed within the coming week, market sources told The Business Times.

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