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According to informed sources, several Chinese groups, including Huarong Asset Management Co, have been negotiating to buy IT distributors (Ingram Micro) from HAC group this year. Sea air group is still continuing its lean process.
In the past two years, HNA has spent $50 billion on mergers and acquisitions. Ying Mai is one of the takeover targets, offering a bid of $6 billion. At present, Hainan Airlines is seeking to raise cash through selling because of soaring debt and Chinese government's control over aggressive M & A activities.
Three people familiar with the consultations said that hay began looking for potential buyers earlier this year and held consultations with several Chinese investors in recent months.
A person directly familiar with the matter said that it included negotiations with 2799.HK. According to the source, Huarong hoped that the price would not exceed $6 billion, but then ended consultations because of concerns about the transaction or failure to obtain regulatory approval from the United States.
The sources did not disclose which companies were interested in Ying Mai. When Hainan Airlines acquired the company in 2016, the United States had attached many conditions. If any Chinese company took over, it would face a complicated situation. Moreover, the current trade tensions between China and the United States also make the trading prospects even more uncertain.
A spokesman for the sea air group told Reuters on Monday that the group "did not sell the British plans and intentions", and was confident of the prospect of strong growth.


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