Date
27 April 2018

KKR buys 10% of Qingdao Haier for 3.38 bln yuan, report says

Qingdao Haier Co. Ltd. (600690.CN) said Monday that it has agreed to sell around 300 million A-shares, equivalent to 10 percent stake, to US investment company KKR & Co L.P. via a private share placement, Panorama Network reported. The exercise will help Qingdao Haier raise 3.382 billion yuan (US$552.51 million), which will be used to replenish its operating capital. The plan is subject to approval from shareholders, Ministry of Commerce and the China Securities Regulatory Commission. Shares of Qingdao Haier, which have been suspended from trading since September 13, are set to resume trading on October 8, the report said.

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