Ingram Micro up for sale, talks underway
Ingram Micro looks set to start the new year under new ownership with HNA Group in preliminary talks to sell the world’s largest technology distributor.
Ingram Micro looks set to start the new year under new ownership with HNA Group in preliminary talks to sell the world’s largest technology distributor.
HNA Group has cancelled its $280 million purchase of an Australian logistics business, with the seller citing cashflow problems at the conglomerate.
Global technology distribution giant now under the control of HNA Group, following the completion of the Chinese conglomerate’s $US6 billion acquisition of the US-based company.
Latest letter is a mixture of assurances, clarifications and taking care of business.
Ingram Micro has released an FAQ on its recent acquisition by Tianjin Tianhai Investment Company for $US6 billion. It answers 19 questions many people have been asking and provides a good backgrounder to the deal.
Ingram Micro's fourth quarter sales have dropped 19 per cent in US dollars and 13 per cent on currency neutral terms when compared with the 2014 fourth quarter. However, there were mitigating circumstances.
When the news broke last week that leading IT distributor, Ingram Micro had been acquired by Chinese company, Tianjin Tianhai, in a deal valued at $US6 billion, the distribution and ICT worlds shook a little.
As journalists around the world scrabble to find out information about a company few - except for experts in Chinese business - know nothing about, the salient fact is that Tianjin Tianhai Investment Co Ltd, the buyer of Ingram Micro, is the front play for the real power behind the throne, HAN Group.