TCL Technology is contemplating the sale of a stake in its television unit in India to local investors, with a target of raising $200 million as it seeks growth and strategic avenues.
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The Chinese firm is collaborating with an adviser and aims to secure at least $200 million through this stake sale, the sources mentioned, requesting to remain anonymous due to the confidential nature of the discussions. Initial considerations are underway, and a deal may not materialize, they cautioned.
This potential sale is reminiscent of a recent decision made by Haier Smart Home Co., another Chinese electronics manufacturer, which last year agreed to sell a 49% stake in its Indian subsidiary to Bharti Enterprises Ltd. and Warburg Pincus, as part of its strategy to enhance its “Made in India, for India” initiative.
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A TCL Technology spokesperson stated that the company has no pertinent information requiring public disclosure and does not comment on market speculation.
(Edited by : Sheersh Kapoor)
