Market Chatter: Haier Smart Home's Indian Operation Attracts Temasek, GIC, Mubadala

MT Newswires Live11-12

Haier Smart Home (HKG:6690, SHA:600690) attracted Singapore investment funds Temasek Holdings and GIC to invest in the Chinese appliance company's Indian operations, Bloomberg News reported Friday, citing people familiar with the matter.

Abu Dhabi sovereign wealth fund Mubadala also indicated interest in purchasing Haier Appliances (India), the report said, citing the sources.

The transaction could put Haier India's assets at up to $5 bilion, according to Bloomberg.

Haier is negotiating with Citigroup for the deal. The terms are not yet final, and the sale may not proceed, Bloomberg reported.

Haier has mulled offloading its stake in its Indian operations by 25% to 49%, Bloomberg said, citing an October report by The Economic Times.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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