HNA intends to delist CWT
It now has 76.7% of voting rights.
HNA Holding Group (HNA) announced that it will acquire CWT Limited (CWT) for $2.33 per share.
According to OCBC Investment Research, HNA now holds 76.7% of voting rights in CWT.
HNA also said it intends to delist and privatise CWT and has no intention to keep it listed.
HNA previously made a voluntary conditional general offer (VGO) on 7 September 2017, and the level of acceptance as of 5 pm was at 76.7%.
The offer’s closing date has been extended from 19 October 2017 to 2 November 2017.