Unisplendour Finalizes Plan for $3.5 Billion Buyout of HPE’s Stake in JV

U.S. tech giant Hewlett Packard Enterprise (HPE) is one step closer to pulling out from its China-based information technology equipment joint venture H3C Technologies Co. Ltd., after Chinese partner Unisplendour Corp. Ltd. announced a plan to acquire its 49% stake in the unit.

Unisplendour, a listed arm of Tsinghua Unigroup Co. Ltd., will pay $3.5 billion in cash for HPE’s stake, a move that will make H3C a wholly owned subsidiary of Beijing-based Unisplendour, according to a slew of filings to the Shenzhen Stock Exchange Friday.