'It's nothing to do with us' - Ingram on rumours Chinese parent company could be nationalised

Distributor says it's 'business as usual'

Ingram has said that the potential nationalisation of its Chinese parent company HNA Group would not have an impact on the distie's business.

Last week Bloomberg claimed that the Chinese government is preparing to take control of cash-strapped HNA and sell off its largest assets, which are predominately in the aviation industry.

HNA acquired Ingram in a $6bn (£4.6bn) deal in 2016, as part of a mammoth $40bn spending spree. But the firm has since struggled with the weight of debt and announced that the coronavirus will dent numbers in its current quarter.

But Ingram has distanced itself from the reports, emphasising that it has acted as an independent company since its acquisition by HNA.

"We believe this is all related to issues with the aviation portion of HNA's business and has nothing to do with Ingram Micro," the distie said.

"The US government mandates that we must continue to run our business as a standalone company consistent with our pre-HNA acquisition practices.

"So any change in our ownership does not impact the fact that Ingram Micro maintains independent operations and financial strength. It's business as usual here."

Rumours that HNA could look to offload Ingram Micro have surfaced on multiple occasions, with Apollo Global Management tipped to acquire the firm, only to then move for Tech Data.

HNA revealed in December 2018 that it was exploring the sale of Ingram, but a deal failed to materialise.

Then last August reports of a group of investors preparing a bid emerged, with Reuters claiming a deal was imminent.