Hopu Group in talks to acquire $7b 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

A consortium led by buyout firm Hopu Investment Management is in advanced talks to buy a minority stake in Chinese air conditioner maker Gree Electric Appliances Inc. from its government-owned parent, according to people familiar with the matter.

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