China reformation

State-owned enterprises are ready for PE ownership

As Chinese SOEs embrace funding from private equity firms and foreign companies, two PE firms are competing for a controlling stake of Gree Electric.

As China allows increasing amounts of outside capital into its core businesses, the country's private equity players are seeing more and more opportunities for investment.

Zhuhai-based state-owned home appliance manufacturer Gree Electric Appliances said in a statement on Tuesday that two bidders were competing for a 15% stake in the group.

One of the companies is controlled by Hopu Fund while the other is controlled by Hillhouse Capital.

Both companies have deep pockets, important as this game needs a huge amount of capital to play.

To get its hands on the 15% stake, the winning candidate will need to pay...

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