This website requires JavaScript.
Daily Briefing

HNA In talks with Ant Financial to sell IT unit Pactera

Oct 16, 2018 by The Passage Team
HNA In talks with Ant Financial to sell IT unit Pactera

China’s HNA Group has held talks with investors including Ant Financial, an online payment platform owned by Alibaba, to weigh an outright sale and other options for its IT outsourcing unit Pactera.

The discussions on Pactera, which HNA bought from Blackstone in 2016 for USD 675 million in cash, is considered also a spin-off of its financial services business for a separate listing, which come amid a series of sales by the heavily indebted Chinese conglomerate.

Alibaba-affiliated fintech company Ant Financial is among the potential investors exploring a deal with Pactera, said people with knowledge of the situation. While terms of any deal under talks between the duo are yet to be disclosed.

Source: Reuters

The Passage Team

The Passage is committed to creating in-depth content over technology industry across Asia with a focus on emerging startups in the technology, healthcare, education, food, tech, travel & mobility segments.

Follow The Passage Team