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New Deal


Announced

Hillhouse to acquire a 15% stake in Gree Electric Appliances from state-controlled Gree Group for $7.5bn.

Financials

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Transaction Value£5,839m
Consideration TypeCash
Capital Owned-
Capital Bid For15%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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air conditioners

Acquisition

Building: Climate Control

Minority

China

Original Bidder Won

air conditioners manufacturer

Public

Pending

Friendly

Private Equity

Synopsis

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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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