Hillhouse, HOPU in race to acquire 15% stake in China's Gree Electric

Hillhouse, HOPU in race to acquire 15% stake in China's Gree Electric

Gree Electric Appliances Ltd. is displayed on an outdoor unit of a commercial air conditioner unit at the company's showroom in Zhuhai, China, on Wednesday, March 28, 2018. Gree is China's largest air-conditioner maker. Photographer: Justin Chin/Bloomberg

Private equity major Hillhouse Capital Group and buyout firm HOPU Investment Management are in race to acquire a 15 per cent stake in Gree Electric Appliances, China’s largest appliance manufacturer, according to a stock exchange filing.