Acquisitive HNA buys logistics specialist CWT for S$1bn

As we reported in the middle of last year, China’s HNA Group has been in talks to buy Singapore’s CWT Logistics. It was the city state’s largest homegrown 3PL, originally part of the vast PSA port operating group until it was sold to private investors in 2005, growing its revenue base as the country developed into a global sea and air logistics hub. Meanwhile, the intentional portfolio of HNA Group is growing sharply. In just three years it has announced more than $40bn in investments outside China.