Deals
HNA Sells Pactera to State-Owned CEC for $750 Million
- State-owned firm signed purchase agreement with HNA this week
- HNA Group has been selling assets to pare its debt load
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Embattled Chinese conglomerate HNA Group Co. has agreed to sell control of its tech outsourcing unit to China Electronics Corp. in a deal valued at about $750 million, people with knowledge of the matter said.
State-owned China Electronics signed an agreement with HNA this week on the purchase of Pactera Technology International Ltd., according to the people, who asked not to be identified as the information is private. The sale of Pactera had attracted interest from other suitors, including Digital China Group Co. and Tech Mahindra Ltd.