After a US$34 billion deal-making spree over the past year, HNA Group Co (海航集團) might need some time to catch its breath.
The acquisitive Chinese conglomerate’s potential bid for Singapore logistics operator CWT Ltd (迅通集團) could be delayed until at least the end of the year, people with knowledge of the matter said.
HNA is weighing changes to the deal structure and is still deciding which of its many entities would make the offer, according to the people, who asked not to be identified because the information is private.
HNA, which has been in exclusive talks with CWT’s biggest shareholder since May, is a major shareholder in at least 10 listed companies, data compiled by Bloomberg showed.
HNA and its listed arms have announced at least US$34.1 billion of acquisitions in the past year, averaging more than two purchases a month, compared with US$12.7 billion during the prior 12-month period, according to data compiled by Bloomberg.
The company, led by aviation tycoon Chen Feng (陳峰), said on Monday it would buy a US$6.5 billion stake in Hilton Worldwide Holdings Inc.
HNA agreed earlier this month to buy CIT Group Inc’s US$10 billion plane leasing business, adding to other recent purchases that include golf courses, an in-flight catering provider and the world’s biggest ground and cargo handling company.
HNA controls Hainan Airlines Co (海南航空) and runs businesses that include insurance firms, ship repairs, logistics and airports, according to its Web site.
HNA is still engaged in discussions with CWT’s biggest shareholder and the parties still hope to announce a transaction by the end of the year, the people said.
A Singapore-based spokesman for CWT and a Beijing-based spokeswoman for HNA declined to comment.
CWT said this month that negotiations are still ongoing and there is no certainty the talks would result in a definitive agreement.
The company, founded in 1970, employs about 6,000 people and offers services including commodity logistics, freight forwarding, warehousing and defense procurement, according to its Web site.
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