Announced
Financials
Sources
Tags
air conditioners
Acquisition
Building: Climate Control
Minority
China
Original Bidder Won
air conditioners manufacturer
Public
Pending
Friendly
Private Equity
Synopsis
Hillhouse Capital won a bid to acquire 15% stake in Gree Electric Appliances, China's largest air-conditioner maker, from its government-owned parent Gree Group for $7.5bn. A review board selected Hillhouse over a consortium led by buyout firm Hopu Investment Management. Hillhouse vowed to maintain Gree Electric's management stability in its offer.
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