Bharti Enterprises, Warburg Pincus Invest in Haier India
An official release said that Bharti and Warburg Pincus will collectively own a 49 per cent stake in Haier India.
New Delhi: Telecom major Bharti Enterprises and private equity firm Warburg Pincus on Wednesday announced a strategic investment in Haier India, a subsidiary of Chinese consumer electronics maker Haier Group - picking up a collective 49 per cent stake in the company. However, both the companies have not disclosed the deal so far.
Following the completion of the transaction, an official release said that Bharti and Warburg Pincus will collectively own a 49 per cent stake in Haier India. “Haier Group will retain a 49 per cent ownership stake in Haier India, with the remaining stake to be held by Haier India’s management team,” it said.
The statement further said that the strategic collaboration will accelerate Haier's growth and expansion in India by bringing together and leveraging the company's global excellence in innovation, Bharti's strong standing and resultant networks, and private equity firm Warburg Pincus' strong track record of scaling brands.
“Bharti Enterprises, one of India's most prominent and diversified business conglomerates, and Warburg Pincus, the pioneer of global growth investing, today announced a strategic investment in Haier India, a subsidiary of the Haier Group,” it said, adding that the partnership will bolster Haier India's ‘Made in India, Made for India’ vision by deepening local sourcing, expanding manufacturing capacity, driving product innovation, and accelerating market penetration.