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Beijing: HNA Group Co is in talks to sell Ingram Micro Inc to private equity firm Apollo Global Management Llc, a source familiar with the matter said on Friday, as the Chinese conglomerate continues to scale back operations.
HNA hopes to sell the US electronics distributor for $7.5 billion, including $1.5 billion in debt, the source said, adding that it is currently in talks with Apollo after rebuffing an earlier offer that it considered too low.
HNA has already pushed ahead with asset sales that have so far included real estate and stakes in hotels groups.
Earlier this month, Reuters reported that China Development Bank was leading a team to supervise HNA’s asset disposals as the heavily indebted conglomerate unwinds a $50 billion acquisition spree and scales back to a point that will leave it holding only core assets. (Reuters)
HNA hopes to sell the US electronics distributor for $7.5 billion, including $1.5 billion in debt, the source said, adding that it is currently in talks with Apollo after rebuffing an earlier offer that it considered too low.
HNA has already pushed ahead with asset sales that have so far included real estate and stakes in hotels groups.
Earlier this month, Reuters reported that China Development Bank was leading a team to supervise HNA’s asset disposals as the heavily indebted conglomerate unwinds a $50 billion acquisition spree and scales back to a point that will leave it holding only core assets. (Reuters)
