Family offices, PEs team up for $1 bn stake in Haier's India operations
Kolkata | Mumbai: Family offices of prominent industrialists, private equity funds are considering acquiring a majority stake in the Indian operations of Haier for a little over a billion dollars as the Chinese consumer appliances and electronics major seeks to indigenise its business amid heightened regulatory and bureaucratic scrutiny, people familiar with the matter said.
ET Year-end Special Reads
Top 10 equity mutual funds of the year. Do you have any?
How India flexed its global power muscles in 2024
2024 was the year India became the talk of America
Warburg Pincus is working with Sunil Mittal of Bharti Enterprises while Bain Capital has teamed up with the family office of industrialist Puneet Dalmia of Dalmia Bharat Group to pick up a minimum 51% controlling interest in Haier Appliances India, sources said on condition of anonymity as the talks are in private domain. TPG Capital, Goldman Sachs, GIC of Singapore and Welspun Group promoter BK Goenka, too, are in fray, they added.
Some of the potential suitors have already submitted their non-binding offers while others are still sounding out “influential Indian business families”, including Ranjan Pai of Manipal, the Burmans of Dabur and the Munjal family to create combinations.
Industry sources said feelers have gone out to a few other financial investors such as Blackstone, CVC Capital Partners, EQT and TA Associates. They are still exploring if they want to proceed.
Soft Skills
Cross-Cultural Communication Mastery: Connect with Confidence
By — Prince Patni,
