China's HNA in talks to sell Ingram Micro to Apollo Global - WSJ

China's HNA in talks to sell Ingram Micro to Apollo Global - WSJ

(Reuters) - Chinese conglomerate HNA Group Co is in talks to sell electronics distributor Ingram Micro Inc to private equity firm Apollo Global Management Llc , the Wall Street Journal reported on Friday, citing people familiar with the matter.

HNA hopes to sell Ingram for $7.5 billion, including $1.5 billion in debt, the report said, adding that it is currently in talks with Apollo after rebuffing an offer that it considered too low.

Apollo declined to comment and Ingram was not immediately available for comment. HNA was not available for comment outside normal business hours in China.

(Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur)

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Updated Date: Dec 22, 2018 04:05:19 IST

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