Earlier this week, the HNA Group announced that they, through their subsidiary Tianjin Tianhai Investment Company, have acquired IT distributor Ingram Micro. The deal was valued at $38.90 per share in an all-cash transaction with an equity value of approximately $6 billion.
Alain Monié, CEO of Ingram Micro said :
We are delighted to move forward with this partnership with HNA Group and excited by the opportunity to accelerate the development and delivery of an even stronger value proposition for Ingram Micro’s vendors and customers globally.
Ingram Micro also announced that on completion of the transaction, it will stop trading on the New York Stock Exchange. It will remain headquartered in Irvine, California and will continue to be led by CEO Alan Monié.
Adam Tan, Vice Chairman and CEO of HNA Group said :
With its well-established supply chain management expertise and broad portfolio of easy-to-use technology solutions, Ingram Micro exemplifies HNA Group’s strategy of investing in companies with strong positions in growing markets in our core areas of focus.