Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Carlyle Group Becomes Investor in Haier Electronics
Aug 26, 2011
 Printable format
 Email this Article
 Search

Haier Electronics Group Co., Ltd., maker of major appliances including washing machines and water heaters, completed an investment agreement with Carlyle Asia Partners III, L.P., a wholly owned subsidiary of the Carlyle Group, which will give Carlyle an interest in Haier. Carlyle will acquire 100,000,000 convertible bonds with a principal amount of HK$1,067,000,000 and 40,000,000 warrants at HK$11.20 per warrant.

Assuming full conversion of the convertible bonds and full exercise of the warrants, Carlyle Asia would hold approximately 5.65% of Haier Electronics' issued share capital.

Haier's statement said that, "Although the Group has sufficient cash balances, a certain portion of such cash balances is from operating working capital, and therefore would not be available for making long term investment. The integrated channel services business related investment, development of logistics centres, acquiring regional networks and the development of ecommerce as well as other related investment require significant upfront cash outflow. The completion of the investment agreement would provide the Group with necessary and sufficient flexibility in making strategic investments in the future three years."

Ms. Janine Junyuan Feng was appointed as a Haier Electronics non-executive director. Ms. Feng is a Managing Director of the Carlyle Group and has extensive experience in direct investments in the PRC.

Back to Daily News

 

Daily News

...........................................................

Dec 22, 2014: DOE's Building Technologies Office releases Roadmap for Emerging HVAC Technologies

Dec 19, 2014: Whirlpool Corp. provides guidance for 2015

Dec 19, 2014: Panasonic to showcase built-in appliances at LivingKitchen 2015

Dec 19, 2014: New residential construction in November 2014

Dec 19, 2014: 2014 U.S. steel production up 0.7% from 2013

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: Appliance Magazine Market Insight Annual Subscriptions
November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows