TCL Electronics Holdings Ltd. is considering selling a stake in its Indian television manufacturing unit to local buyers to help grow the business, people familiar with the situation said.
The Chinese company is working with an adviser and seeking to raise at least $200 million from a stake sale, the people said, asking not to be identified discussing private information. Considerations are preliminary and might not result in a deal, they said.
A sale would follow a similar move by fellow Chinese household electronics manufacturer Haier Smart Home Co., which late last year agreed to sell a 49 per cent stake in its Indian unit to Bharti Enterprises Ltd. and Warburg Pincus. Haier has said its goal in that deal is to bolster its “Made in India, for India” strategy.
TCL didn’t respond to requests for comment.
TCL’s shares have climbed about 70 per cent in 12 months in Hong Kong, including a 30 per cent rally in the past two weeks through Friday, after announcing it was setting up a TV-making joint venture with Japan’s Sony Group Corp.
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