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HNA Group in talks to acquire Singapore logistics firm CWT

LBR Staff Writer Published 09 May 2016

China-based HNA Group is reportedly in advanced discussions to acquire a controlling interest in Singapore-based logistics firm CWT.

HNA

Citing people familiar with the matter, Reuters reported that the deal could be valued at around $1bn.

Representatives from both the companies declined to comment on the deal.

Established in 1970, CWT provides integrated logistics and supply chain solutions to its customers.

CWT offers commodity, freight, warehousing, integrated, contract and defence logistics services.

With around 6,000 employees, the company reported revenue of around $9.9bn in the last year.

CWT has network connectivity to around 200 direct ports and 1,500 inland destinations.

In April, HNA Group agreed to cquire Switzerland's air-travel logistics firm gategroup Holding, for around CHF1.4bn ($1.47bn).

gategroup offers products, services and solutions to companies that serve people on the move.

The company is specialized in providing provisioning and logistics, catering and hospitality, as well as onboard products and services to its customers.


Image: HNA Group headquarters in Haikou, Hainan. Photo: courtesy of Anna Frodesiak.