Platinum Equity to Buy HNA’s Ingram Micro for $7.2 Billion (3)

U.S. private equity firm Platinum Equity will buy HNA Group Co.’s technology distribution business Ingram Micro Inc. in a deal valued at about $7.2 billion.

Platinum signed a definitive agreement to acquire Ingram Micro from HNA Technology Co., a Shanghai-listed unit of the Chinese conglomerate, it said Wednesday. The sale is expected to be completed by the first half of 2021, according to the statement, which confirmed an earlier Bloomberg News report.

HNA Technology’s A-shares climbed as much as 7% on Thursday in Shanghai, their largest move since September. The stock is up about 11% this year. ...