Monday, August 24
The Bharti-Haier deal is finally done after over a year of negotiation.Chinese electronic major Haier has received approval from the Chinese government to sell 49% stake in the wholly-owned Indian arm, Haier Appliances India paving the way for the proposed stake sale to Sunil Mittal’s holding company Bharti Enterprises and Warburg Pincus combine, two senior industry executives said.The size of the deal could not be immediately confirmed, but the Indian business is likely to be valued at around Rs 15,000 crore (about $1.5 billion), the executives said.A formal announcement is expected anytime soon and could be even today. A town hall has been planned at Haier India offices today afternoon.As per the proposed deal, Haier will retain 49% in the Indian arm, Bharti Enterprises-Warburg Pincus
