Reliance joins bidding race for majority stake in Haier India

Mumbai: Haier India has decided to reduce its stake to 51% as the Chinese electronics brand seeks to strengthen its position in the Indian market with a suitable local partner. 

In a bid that has so far seen Sunil Mittal in partnership with Warburg Pincus. TPG, the Burman family of Dabur and Goldman Sachs, with Amit Jatia family, the race has now been joined by Reliance as a key contender to acquire the majority stake, as per the news reports. 

Haier India has engaged Citi to facilitate this bidding and the acquisition talks with Indian family offices and private equity firms. Haier seeks a valuation of USD 2 to 2.3 billion, including a control premium.

The company has planned this move similar to MG Motor India’s strategy, seeking local Indian partners to facilitate the Chinese brands’ growth amid the rising geopolitical trade pressures, including US tariffs introduced by the Trump administration.

Reliance has stepped up its engagement, entering the bidding well after initial non-bidding proposals were submitted earlier this year. 

News reports suggest that Reliance representatives have made direct contact with Haier’s headquarters in Qingdao, China. Meanwhile, Sunil Mittal is reported to have visited China to meet with Haier’s top leadership, signaling the intensity of competition for a stake in one of India’s most promising electronics ventures.