Bharti, Warburg Pincus to acquire 49% stake in Haier India
Mumbai, Dec. 25 -- Bharti Enterprises, the holding company of the Bharti group of companies, and private equity major Warburg Pincus will spend $2 billion to jointly acquire a 49% stake in consumer appliance maker Haier India, two people with knowledge of the deal said. Haier India's parent, the Chinese Haier Group, will retain the 49% stake in the local unit.
The transaction will help Haier Group shed stake to comply with Indian investment rules for Chinese companies and boost its local manufacturing capacity, the companies said.
"Following the completion of the transaction, Bharti and Warburg Pincus will collectively own a 49% stake in Haier India. Haier Group will retain a 49% ownership stake in Haier India, with the remaining stake to b...
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