Ingram Micro is under discussions to be sold by parent company HNA Group to private equity firm Apollo Asset Management for $7.5 billion, including $1.5 billion of debt.
This is according to a report from The Wall Street Journal. HNA Group said on Christmas Eve it is selling Ingram “due to changes in market conditions and the company’s strategy”, the firm said in a filing to the Shanghai stock exchange. The$7.5 billion bid from Apollo was reportedly considered too low to accept.
In September, HNA Technology claimed to hold $3.55 billion of outstanding debt from the purchase of Ingram Micro, of which $350 million was due for payment this year.
HNA Group bought the distributor in December 2016 for $6 billion.
Ingram Micro said: “Ingram does not comment on rumour or speculation.”
