TCL Technology Considers Selling Stake in Indian TV Unit

TCL Technology Group Corp. Considers Stake Sale in Indian Unit

TCL Technology Group Corp., a Chinese electronics manufacturer, is exploring the possibility of selling a stake in its Indian television manufacturing unit to local buyers. This move is aimed at growing the business, according to people familiar with the situation who wish to remain anonymous while discussing private information.

The Chinese company is working with an advisor and seeking to raise at least $200 million from the stake sale. However, it is essential to note that the discussions are still preliminary, and the outcome of these negotiations is uncertain. The potential sale may not result in a deal, and further developments are needed to determine the fate of this proposal.

The development comes after a similar move by Haier Smart Home Co., another Chinese household electronics manufacturer. In a deal announced late last year, Haier agreed to sell a 49% stake in its Indian unit to Bharti Enterprises Ltd. and Warburg Pincus. Haier's primary objective behind this deal is to bolster its "Made in India, for India" strategy.

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In response to the speculation surrounding the potential sale, a representative for TCL Technology stated that the company has no relevant information that requires public disclosure and does not comment on market rumors.