Negotiations between the HNA Group and CWT’s controlling shareholder, C & P Holdings, follows an agreement in February to acquire California’s Ingram Micro and an April announcement it would buy Gategroup Holding and Carlson Hotels.
The board of directors of the Singapore logistics firm CWT said that its controlling shareholder, C & P Holdings has entered into exclusive negotiations with a subsidiary of China’s HNA Group in relation to a potential transaction with respect to their shareholdings in CWT.
Earlier this month, HNA said it was considering a bid for CWT.
HNA, parent of Hainan Airlines, has been on an acquisition tear of late.
In February, the Irvine, California-based logistics firm Ingram Micro said it had entered into an agreement to be acquired by Tianjin Tianhai to become part of HNA Group.
HNA in April said it would buy Swiss airline
catering company Gategroup Holding AG as well as Carlson Hotels Inc.
CWT cautioned, however, “There is no certainty or assurance that such negotiations between C & P and its controlling shareholders and HNA Group will result in any definitive agreement or transaction or lead to a consummation of the potential transaction.”
HNA enters exclusive talks to acquire Singapore logistics firm
