HNA Holding Group Co.

Deutsche Bank CEO has yet to meet top investor HNA

(Oct 9): Deutsche Bank AG Chief Executive Officer John Cryan hasn’t yet met with one of the bank’s top investors but plans to do so, a spokeswoman said Sunday.

“Of course” it will happen, the spokeswoman for Deutsche Bank said, when asked about a meeting between Cryan and Adam Tan, the head of HNA Group Co., a Chinese conglomerate that bought a 9.9% stake in the bank this year. Cryan has been avoiding a meeting with HNA, irking Supervisory Board Chairman Paul Achleitner, the Wall Street Journal reported Sunday.

Accept HNA $2.33 offer, OCBC tells CWT shareholders

SINGAPORE (April 10): OCBC recommends shareholders accept HNA’s $2.33 offer price once the voluntary general offer (VGO) is made upon meeting the pre-conditions.

OCBC says the offer price, which represents a 19.5% premium to its $1.95 fair value, is attractive and a good opportunity for shareholders to unlock value.

“HNA intends to delist CWT once public float falls below 10%,” says lead analyst Eugene Chua in a Monday note.

CWT gets $2.33 per share offer from HNA; acquisition deal valued at $1.4 bil

SINGAPORE (April 10): China’s HNA Holding Group Co. is making an offer to acquire logistics firm CWT for nearly $1.4 billion.

In a regulatory filing on Sunday night, HNA announced that its subsidiary HNA Belt and Road Investments (Singapore) plans to purchase 600 million CWT shares at $2.33 apiece.

This values the acquisition deal at nearly $1.4 billion.

The offer price represents a 13.11% premium over CWT's last traded price of $2.06 on Wednesday.

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