HNA Technology is a Chinese company which was formerly known Tianjin Tianhai Investment company private limited.
It is specialized in marine transportation services. The company is in preliminary talks to sell Ingram Micro Inc.
Ingram Micro Inc is basically an American distributor of information technology products which is acquired by the HNA technology for all cash transactions.
HNA technology announced during the filing to the Shanghai stock exchange that the discussions realated to the matter are at an early stage and that no agreements has been signed by the company yet.
It stated in the filing that the company is talking about selling Ingram Micro due the changes in the market condition as well as due to a company’s strategy
The company said is September that it had around 3.55 billion dollars of outstanding debt to be paid from the purchase of the American distributor of information technology products, Ingram Micro and $350 million is due for payment the current year alone.
Source: Reuters, Investing
