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Platinum Equity in talks to acquire Ingram Micro for US$7B

Platinum Equity in talks to acquire Ingram Micro for US$7B

Talks are ongoing but fragile

Credit: Ingram

US private equity firm Platinum Equity is in talks to acquire Ingram Micro Inc from its Chinese aviation and shipping conglomerate HNA Group, in a deal valued at about US$7 billion, according to Bloomberg News.

The talks are currently ongoing and could still fall apart, the report said, citing people familiar with the matter. 

Ingram Micro and Platinum Equity did not immediately respond to Reuters requests for comment.

The distribution giant has been subjected to acquisition rumours for the past two years, since another private equity firm, Apollo Global Management reportedly made an offer in 2018.

At a similar time last year, Ingram Micro was reportedly on the verge of selling a controlling stake to a consortium of investors led by Asian private equity group RRJ Capital, in a US$4 billion deal.

“Debt-laden airlines-to-finance conglomerate HNA has launched a series of asset sales including real estate and stakes in hotel groups over more than a year following China’s crackdown on aggressive dealmaking firms,” wrote Reuters at the time.

Ingram Micro is currently owned by HNA Group, following the completion of the Chinese conglomerate’s US$6 billion acquisition of the US-based business almost four years ago.

As revealed by ARN, the acquisition - completed in December 2016 - resulted in the publicly-traded HNA Group subsidiary, Tianjin Tianhai Investment Company, taking control of the distributor.

Since its founding in 1995, Platinum Equity has completed more than 250 acquisitions with a portfolio of more than US$23 billion in assets under management. 

With additional Reuters reporting by Akanksha Rana in Bengaluru; Editing by Shinjini Ganguli


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