October 19 -- Midea Investment Holding plans to sell a 15.3 percent stake in Midea Group, the controlling shareholder of Little Swan (000418.SZ) and GD Midea Holding (000527.SZ), to two private equity firms, reports Shanghai Securities News, citing a company filing.

Tianjin Rongrui Investment Consulting will purchase a 12.18 percent stake in Midea Group, while Tianjin Dinghui Jiatai Equity Investment will acquire a 3.12 percent stake.

Following the stake sale, Midea Investment Holding will have a 68.7 percent stake in Midea Group.

The transction price was not disclosed in the filing.

Tianjin Ronghui Investment Consulting was established by ICBC International Holdings, which is the Hong Kong subsidiary of ICBC.

According to some analysts, Midea Investment Holding intends to conduct an overall listing through the stake sale.

Source:CapitalVue