Sunil Mittal, the founder of Bharti Airtel, is reportedly in advanced talks to acquire a 49% stake in Haier India, the Indian subsidiary of the Chinese home appliances giant, Haier. The stake is valued at approximately $2 billion, with Mittal working alongside private equity firm Warburg Pincus on the potential deal. According to sources, discussions are ongoing, and an agreement could be finalized in the coming weeks, although no definitive decision has been made yet.
Haier India, which manufactures a variety of home appliances like air conditioners, refrigerators, and washing machines across three factories in India, has been seeking local investors for its operations in the country. While Mittal’s potential acquisition has garnered attention, reports have also speculated about Mukesh Ambani, the chairman of Reliance Industries, possibly being interested in a substantial stake in Haier India.
At present, neither Haier, Mittal, nor Warburg Pincus have commented on the development. The potential deal reflects the increasing interest of Indian investors in the home appliances sector, especially given the shifting dynamics in India-China relations and the growing demand for consumer goods in India.
