(Yicai Global) Dec. 06 -- China's aviation and tourism services giant Hainan Airlines Group’s acquisition of Ingram Micro Inc., an American IT distributor, for USD6 billion will result in the American company being delisted from the NYSE.
Following completion of the acquisition, Ingram Micro Inc. will be de-listed from the NYSE and included into HNA Logistics Group Co., a subsidiary of Hainan Airlines Group, becoming the main body of HNA Logistics’ supply chain management business, sources told Yicai Global. But the company will continue to operate independently, the management team will remain in office, and the headquarters will continue to stay in Irvine, California.
Ingram Micro Inc. is the world's largest IT products distributor and supply chain service provider. It was listed on the New York Stock Exchange (NYSE) in 1996. It reported operating revenue of USD43 billion in 2015, 1.5 times that of Avnet (AVT), the second largest company in IT distribution industry.
Ingram Micro Inc. is able to integrate and manage transportation, warehousing, customs clearance and other logistics companies with an asset-light model, which fits in well to HNA Logistics’ supply chain management (4PL) business model, said Wang Ruchen, veteran commentator on TMT industry.