HNA to sell electronics distributor Ingram Micro

China’s HNA Technology is in talks to sell U.S. electronics distributor Ingram Micro as part of its parent group’s efforts to trim operations.
Dollar spending on technologyHNA Technology is the listed arm of Chinese conglomerate HNA Group.

“Due to changes in market conditions and the company’s strategy, the company is in talks with a party on selling Ingram Micro,” it said in the exchange filing.

A Reuters report earlier said that HNA was in talks to sell Ingram Micro to private equity firm Apollo Global management.

HNA Technology said in September it had $3.55 billion of debt from the purchase of Ingram Micro, of which $350 million was due for payment this year.