Sunil Mittal's Strategic Move into Haier India

Billionaire Sunil Mittal, founder of Bharti Airtel, is reportedly in advanced negotiations to acquire a 49% stake in Haier Appliances (India), a subsidiary of China's Haier Smart Home Co. This potential $2 billion deal, in collaboration with private equity firm Warburg Pincus, aims to capitalize on India's booming demand for home appliances.

Deal Dynamics and Potential Outcomes

The discussions are ongoing, with the possibility of other investors emerging or Haier deciding against the sale. A final agreement could be reached within weeks, pending necessary approvals. Mittal and Warburg Pincus have declined to comment, while Haier has yet to respond to inquiries.

Haier's Growth in South Asia

Highlighting its strong performance, Haier reported a more than 30% revenue growth in South Asia in the first quarter, with its side-by-side refrigerators capturing a 21% market share in India. This growth underscores the strategic value of Haier's Indian operations to potential investors like Mittal.