CWT still in talks for potential delisting offer
HNA Group is mulling a takeover.
CWT’s controlling shareholder has not yet shelved a potential privatisation bid, the mainboard-listed company said in a statement.
China’s HNA Group is still in talks with CWT’s controlling shareholder C&P Holdings for a potential takeover.
HNA is looking to buy C&P’s 31.9% stake in CWT, which will trigger a mandatory general offer for all the remaining shares of CWT, and may lead to a potential privatization of CWT.
However, there is no assurance that such negotiations will result in any definitive agreement or transaction.