Qingdao Haier, KKR Form Strategic Partnership (Asia)

Source: Kohlberg Kravis & Roberts, The Wall Street Journal  |  Author: Isabella Steger

Global investment firm Kohlberg Kravis & Roberts (KKR) and China-based home appliance manufacturer Qingdao Haier have announced the signing of a definitive agreement under which KKR will acquire a ten percent stake in Qingdao Haier for a reported RMB3.4 billion (approximately US$556 million). The company intends to use the new funding to grow its global platform. The transaction is subject to regulatory and shareholder approvals.