Case Study Hna Holding

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TABLE OF CONTENTS
1 Executive Summary
2 Company background
3 Industry Overview
4 Reasons for acquisition
5 Major events
6. Financing package
7. Analysis of the effects of corporate announcements
8. Aftermath
9. Discussion

1. Executive summary

2.1 About HNA HOLDING GROUP COMPANY LIMITED
2.1.1 History
HNA holding group company limited is a listed company in Hong Kong (521.HK). HNA group has acquired and controlled the former Shougang Concord Technology Holdings Limited in 2013. HNA holding was mainly doing business in traditional electronic products processing industry. With years of development, the company has shifted its major business into diversified integrated logistics services, resort and tourism industry and
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Notwithstanding becoming a leading marine service provider, CWT also expanding its global network to 200 ports and 1600 inland destinations in providing sea freight services.

Commodity marketing
CWT is currently playing the role of broker for non-ferrous base metal trading. They are making profit form the arbitrage between price difference of two geographic locations relying on their logistic network. They can also receive a higher offer for providing a portfolio of metals of concentrates rather than just providing single kind of material. With an operation of 12 offices and numerous of staffs, their commodity marketing is creating more arbitrage opportunities for their commodity trading business.

Engineering services

CWT is now incurring the services of property, facilities and vehicle management, supply, install and maintain engineer products, design and construct for logistic assets. Their customers are served in government, commercial, aviation and military sectors who is highly rely on their warehouse for installation and maintenance. The passenger terminal and airfield lighting system of Singapore airport is also provided by CWT. Airport, home security department and military occupied the major demand of vehicle maintenance services of
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Figure 7.1.1. Linear regression where β =1.932, after plugging in 250-day data [data from 03/03/2015 to 06/11/2015] before t-10 of Stage I [22/07/2015]

Step 4: Find the Expected return for HNA Holding After getting β s from 250-day historical data of ri and rM , we found the expected return for HNA Holding by plugging in figures into the capital asset pricing model [CAPM], the formula of CAPM is shown as below:
E(rit)=rf+ 훽(E(rMt)− rf)

where

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