Haier Sells 49% of Indian Unit to Bharti, Warburg Pincus (1)

Chinese home appliance maker Haier Smart Home Co. agreed to sell a 49% stake in its India unit to Bharti Enterprises Ltd. and Warburg Pincus.

Haier will retain a 49% stake and the rest will be owned by its management team in India, the companies said in a joint statement Wednesday. No financial terms were provided.

The agreement will bolster Haier’s “Made in India, for India” strategy by deepening local sourcing, expanding manufacturing capacity and innovation, and accelerating its push into the market, according to the statement.

People familiar with the matter said earlier this year that ...