Chinese parent reportedly looking to reduce debt after mega acquisition spree
Ingram Micro's Chinese owner is reportedly exploring the possibility of offloading the distributor, less than two years after completing the $6bn acquisition.
Conglomerate HNA acquired Ingram Micro as part of a $50bn spending spree, but has now held talks about a potential sale to reduce its debt, according to Reuters.
Similar reports surfaced earlier this year, but were quickly shot down by HNA.
Reuters is now claiming that HNA has held talks with a number of firms regarding a possible sale, including one Chinese state-backed investment firm, citing a source "familiar with the matter".
This source reportedly claimed that this deal failed to materialise because the potential buyer did not want to match the $6bn paid by HNA for Ingram, and feared any agreement would fail to pass US regulatory approval.
CRN contacted Ingram Micro for comment and was directed towards a comment from HNA, which stated: "We have no plans or intention to sell Ingram Micro, and we have great confidence in the company and its prospects for continuing strong performance and growth."
In its most recent financial report Ingram Micro reported a quarterly revenue of $11.8bn (£8.78bn) for the period ending 31 march 2018, up 13 per cent of the same quarter last year.
Operating income more than doubled to $86.7m.
