Bidders for Gree Electric’s 15% Stake Sale Narrows to Two

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By Peng Yanfeng and Mo Yelin / Sep 03, 2019 03:11 PM / Business & Tech

Photo: IC Photo

And then there were two.

The parent of Gree Electric Appliances has narrowed its bidders for a 15% stake sale in the Chinese air conditioner giant to two, inching closer to sealing a deal that has captured the market’s attention for months.

A Zhuhai-based private equity fund backed by Hillhouse Capital Group and a consortium of two companies controlled by Hope Investment were chosen after they filed application materials and paid a security deposit, Gree Electric said Wednesday in a statement to the Shenzhen Stock Exchange.

This came after parent company Gree Group said last month it would begin accepting bids through Sept. 2. It first announced its intent of the stake sales in April.

Read the full story later today at Caixin Global's homepage.

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