China’s HNA Grouphas now struck more than $40bn of deals in little more than two years after announcing plans to buy Singapore logistics provider CWT.
The proposed $1bn purchase of CWT, which provides warehousing and logistics services to the commodities industry, adds to HNA’s spending spree, solidifying the company’s status as China’s most ferocious overseas acquirer and one of the most active asset buyers globally.
The dealmaking has transformed HNA into a sprawling holding group whose assets span tourism, hotels, airlines, financial services, real estate and logistics. Capturing CWT would lift the total value of HNA’s transactions in the past 28 months to more than $40bn, according to an FT analysis of Dealogic data.