News / HNA Group turns its eye on Singapore with $1bn proposal to buy CWT logistics group

Acquisitive Chinese conglomerate HNA Group is in advanced talks to buy Singapore logistics major CWT in a US$1bn deal, it has been revealed.

CWT has confirmed that its controlling shareholder, C&P Holdings, is in exclusive negotiations with a subsidiary of HNA Group over a potential sale. However, the CWT board added, in a statement: “There is no certainty or assurance that such negotiations will result in any definitive agreement or transaction or lead to a consummation of the potential transaction.”

With a market capitalisation of $940m, CWT ...