RRJ-led group in talks to invest US$4bil in HNA’s Ingram Micro

Debt-laden: An HNA Group logo is seen on the building of HNA Plaza in Beijing, China. RRJ began buying HNA’s overseas assets when the debt-laden Chinese conglomerate started to restructure its business more than a year ago. — Reuters

HONG KONG: RRJ Capital, run by former Goldman Sachs Group Inc’s partner Richard Ong, is in advanced talks with the embattled HNA Group Co to lead a US$4bil investment in Ingram Micro Inc, people familiar with the matter said.

The group led by the Hong Kong-based private equity firm will invest through an HNA bond that can be converted into close to 50% of Ingram Micro’s shares, the people said, asking not to be identified before the agreement, which may be signed as early as next week.