Thursday , February 20 2020

HNA sells Pactera for $750mn

Bloomberg

Embattled Chinese conglomerate HNA Group Co has agreed to sell control of its tech outsourcing unit to China Electronics Corp in a deal valued at about $750 million, people with knowledge of the matter said.
State-owned China Electronics signed an agreement with HNA on the purchase of Pactera Technology International Ltd, according to the people, who asked not to be
identified.
The sale of Pactera had attracted interest from other suitors, including Digital China Group Co and Tech Mahindra Ltd. HNA has been offloading assets from hotels to a container unit to pay down debt.

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