Ingram Micro’s parent company HNA announced recently it is in talks over a potential sale of Ingram Micro to Apollo Asset Management. The deal comes with a $7.5bn price tag, including $1.5bn of debt. HNA purchased the distributor in 2016 for $6bn but due to a recent crack down by the Chinese government on aggressive deal making firms.
HNA released a statement on Christmas Eve as to why they were dumping the asset, it read, “due to changes in market conditions and the company’s strategy, the company is in talks with a concerned party on selling Ingram Micro.”
Initially reported by the Wall Street Journal, apparently Apollo has already made one offer which was considered too low to accept.
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