BEIJING, Dec. 8 (Xinhua) -- Tianjin Tianhai Investment Co., Ltd. announced on December 7 that it has completed the transaction of acquiring U.S. information technology distributor Ingram Micro Inc.
According to previous statement, Tianhai Investment paid cash to buy 100 percent of the New York Stock Exchange listed company for 40 billion yuan (about 5.8 billion U.S. dollars). After the transaction, Ingram Micro became Tianhai Investment’s wholly owned subsidiary.
Ingram Micro is the world’s largest IT distributor and one of the top 500 enterprises.
Of the money paid, 8.7 billion yuan was Tianhai Investment’s own fund, 4 billion was from Guohua Life Insurance Company and the rest was bank loans. (Edited by Yang Qi, kateqiyang@xinhua.org)
A single purchase
