How Haier overcame FX challenges to seal GE deal

Haier's purchase of General Electric's home appliances unit was a landmark deal for the Chinese company. Behind the scenes it provided its fair share of headaches.

Like many Chinese companies, consumer electronics and home appliances manufacturer Haier Group has been on an international MA spree.

Perhaps the most striking deal was its acquisition of General Electric’s home appliance unit, GE Appliances, last year. In what was dubbed a “symbolic” purchase, the company from China's beer-production capital, Qingdao, agreed to pay $5.4 billion when it announced the deal in January 2016. The closing price ended up at $5.58 billion in June because of “increased working capital in the business”, according to GE.

The deal brought together the second-biggest players in home appliances in the world's first and second-biggest...

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