02 03 2016

China's HNA Group signed an agreement to acquire Ingram Micro for $6 billion

Ingram Micro Inc., a computer, networking and software distributor, agreed to be acquired by China’s Tianjin Tianhai Investment Co. for an equity value of $6 billion.

Ingram Micro, which also provides technology services, will become part of HNA Group, the largest stockholder of Tianjin Tianhai, the companies said Wednesday in a statement. The purchase is further evidence of China’s determination to acquire overseas technology assets to boost its domestic capabilities and replace imports. China’s publicly traded firms are in the midst of their biggest-ever international shopping spree. Morgan Stanley was financial adviser to Ingram Micro, while China International Capital Corp Ltd and Bravia Capital were lead financial advisers for HNA Group. HNA is a group that has divisions in the aviation, tourism and logistic industries. Its holdings include 11 publicly traded companies. The group had revenue of $29 billion in 2015, according to the statement. Tianjin Tianhai, which is listed on the Shanghai Stock Exchange, is trying to transform itself from a marine shipping company into a more general logistics and supply chain management operation. Weil is representing HNA Group in the acquisition with a team led by Asia Managing Partner Akiko Mikumo (picture) and Corporate partner Charles Ching; Antitrust partner Doug Nave; Environmental Transactions partner Annemargaret Connolly; Executive Compensation & Benefits partner Paul Wessel; International Arbitration & Trade partner Ted Posner; Real Estate partner David Herman; Tax partner Jared Rusman; Technology & IP Transactions partner Jeffrey Osterman; Corporate counsel U-Hyeon Kwon and William Welty; Antitrust counsel John Sipple; Environmental Transactions counsel Thomas Goslin; White Collar Defense & Investigations counsel Adam Safwat; Corporate associates Jeremiah Phillips and Kevin Wang; legal consultant Shujie Zhang; Antitrust associate Neil Rigby; Executive Compensation & Benefits associate Zahava Blumenthal; International Arbitration & Trade associate Tim Welch; Real Estate attorney Leslie Smith; Tax associate William Dong; Technology & IP Transactions associates Claudia Hoeben and Mary Lentowski.   Involved fees earner: Akiko Mikumo - Weil; Charles Ching - Weil; William Welty - Weil; U-Hyeon Kwon - Weil; Jeremiah Phillips - Weil; Kevin Wang - Weil; Doug Nave - Weil; Ted Posner - Weil; John Sipple - Weil; Neil Rigby - Weil; Timothy Welch - Weil; Annemargaret Connolly - Weil; Thomas Goslin - Weil; Paul Wessel - Weil; Zahava Blumenthal - Weil; David Herman - Weil; Leslie Smith - Weil; Jared Rusman - Weil; William Dong - Weil; Jeffrey Osterman - Weil; Claudia Hoeben - Weil; Mary Lentowski - Weil; Adam Safwat - Weil;

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