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.

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