Business

HNA Group To Acquire American IT Distributor For USD6 Billion

Hainan Airlines Group's Tianhai Investment announced that they have completed all overseas approvals, filing procedures, and other pre-procedures for its acquisition of Ingram Micro Inc.

Tianhai Investment will invest USD6.009 billion to acquire the entire stake in this NYSE-listed company.

Founded in 1979, Ingram Micro is headquartered in Irvine, California. It is a leading company in traditional distribution of IT products and it is also a supply chain comprehensive services provider that integrates IT product distribution and technical solutions, mobile device and life cycle services, e-commerce supply chain services, and cloud services.

Ingram Micro has branches in 45 countries and regions in the world and its businesses cover more than 160 countries and regions. It provides sales services to over 1,800 suppliers and offers solutions and services to 200,000 distributors around the world. Ingram Micro brought its IT distribution business into China in 1999 and its clients include Lenovo, Haier, and Hanvon.

In 2015, the company realized operation revenue of USD43.026 billion, which was about CNY296.08 billion; while its net profit was USD215 million, which was about CNY1.48 billion.

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