Deals
RRJ-Led Group in Talks to Invest $4 Billion in HNA’s Ingram Micro
- Group said to invest in bonds exchangeable into Ingram shares
- HNA’s sale proceeds said to repay loans borrowed to buy Ingram
The HNA logo is seen on a building in Beijing.
Photographer: Greg Baker/AFP via Getty Images
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RRJ Capital, run by former Goldman Sachs Group Inc.’s partner Richard Ong, is in advanced talks with the embattled HNA Group Co. to lead a $4 billion investment in Ingram Micro Inc., people familiar with the matter said.
The group led by the Hong Kong-based private equity firm will invest through an HNA bond that can be converted into close to 50% of Ingram Micro’s shares, the people said, asking not to be identified before the agreement, which may be signed as early as next week. The bond proceeds will be used to pay down a loan taken by HNA from Chinese banks for the acquisition of the U.S. networking and software distributor, the people said.