New York, June 6, 2016 – PricewaterhouseCoopers Corporate Finance Global Network (“PwC CF Global Network”) China and U.S. teams acted as financial advisors to Haier on its acquisition of General Electric’s Appliances business, one of the largest U.S. home appliance manufacturers. On June 6, 2016, the parties announced the signing of closing documents, marking the beginning of GE Appliances being part of Qingdao Haier Co., Ltd. The transaction is the largest on record for the global home appliances industry.
“We extend our congratulations to Haier on its acquisition of one of the most well-known home appliance brands in the world,” said Gabriel Wong, PwC Head of China Corporate Finance.
“The two businesses are a great fit and together will enable Haier to further its global expansion strategy,” said Aakash Bhasin, Managing Director at PricewaterhouseCoopers Corporate Finance LLC. “This landmark transaction showcases the power of our global network and ability to collaborate to overcome the challenges that come with complex, cross-border deals.”
PricewaterhouseCoopers Corporate Finance LLC (“PwC CF” or “PwC Corporate Finance”) is a dedicated investment banking advisory team focused on divestitures and acquisitions, debt and equity private placements and capital markets advisory services. In the last 10 years, the PwC CF Global Network closed nearly 4,200 deals globally, of which over 40 percent were cross border. The team of 65 U.S. based professionals has expertise across all industries and works closely with the more than 1,700 professionals in the PwC CF Global Network around the world.
“Deal flow remains strong in the first half of 2016, highlighted by a variety of complex cross border deals including several divestitures,” said Philipp A. Hofstetter, President of PwC Corporate Finance. “Looking across our global network, we expect an active second half of the year.”
PwC Corporate Finance and its professionals provide M&A related investment banking advisory services. PwC CF specializes in advising domestic and international clients on divestitures and acquisitions, debt and equity private placements and capital markets advisory services across the globe. PwC CF offers the focus of an investment bank with access to the resources, integrated advisory services and industry expertise of the PricewaterhouseCoopers network of member firms located throughout the world.
PwC CF is a registered broker dealer and a member of FINRA and SIPC. PwC CF is owned by PricewaterhouseCoopers LLP, a member firm of the PricewaterhouseCoopers Network. PwC CF is not engaged in the practice of public accountancy.
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