HNA Technology says in preliminary talks to sell Ingram Micro

HONG KONG (Reuters) – China’s HNA Technologies Co Ltd is in preliminary talks to provide U.S. electronics distributor Ingram Micro Inc, as element of its parent group’s endeavours to trim operations.

Conversations were being at an early stage, HNA Technological innovation, a outlined arm of Chinese conglomerate HNA Group Co [HNAIRC.UL], explained in a filing to the Shanghai inventory exchange.

No settlement has been signed nevertheless, HNA Technological know-how claimed.

“Due to improvements in market circumstances and the company’s system, the business is in talks with a concerned get together on promoting Ingram Micro,” it stated in the trade submitting.

Reuters documented on Friday that HNA Team was in talks to sell Ingram Micro to personal fairness firm Apollo International administration LLC, citing a source common with the make any difference.

HNA Technological innovation explained in September it experienced $3.55 billion of excellent personal debt from the order of Ingram Micro, of which $350 million was owing for payment this 12 months.

Reporting by Meg Shen Modifying by Kirsten Donovan

Our Expectations:The Thomson Reuters Rely on Concepts.
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