Thursday, November 21, 2024
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Haier’s stake sale in India business garners strong interest

Temasek Holdings, GIC and Mubadala contemplating participation in investment opportunity

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  • Selling a stake between 25% and 49% in its Indian operations could provide Haier with the necessary resources to enhance its competitive edge.

Chinese household appliance manufacturer Haier Smart Home Co has garnered significant attention from prominent investment firms, including Temasek Holdings Pte and GIC Pte, regarding a potential minority stake acquisition in its Indian subsidiary, Haier Appliances (India) Pvt.

The interest highlights the growing appeal of the Indian market for foreign investors, particularly in sectors poised for expansion.

According to sources familiar with the discussions, additional firms, such as the Abu Dhabi sovereign wealth fund Mubadala Investment Co., are also contemplating participation in this investment opportunity.

The estimated valuation of Haier’s Indian assets ranges from $4 billion to $5 billion, underscoring the company’s robust position within the market. Haier’s collaboration with Citigroup Inc. to explore this potential transaction indicates a strategic approach to leveraging its assets while inviting external capital to fuel further growth.

Despite the preliminary nature of these discussions, the possibility of selling a stake between 25 per cent and 49 per cent in its Indian operations could provide Haier with the necessary resources to enhance its competitive edge.

The company has reported impressive sales growth exceeding 25 per cent in the first half of the year, attributed to substantial long-term investments across its value chain.

The growth trajectory, coupled with an expanding retail network that has enabled Haier to capture over 20 per cent market share, positions the company favorably for future endeavours.



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