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China’s Hisense interested in buying Bosch factories in Russia — newspaper

The source of the newspaper also specified, without disclosing details, that Hisense came up with "the most convenient conditions for the buyback if Bosch wants to return"

MOSCOW, June 20. /TASS/. The German manufacturer of home appliances Bosch is in talks with a number of companies to sell its production facilities near St. Petersburg, the Kommersant business daily reported on Tuesday, citing a source in the electronics market.

The company did not disclose the names of the applicants, but China’s Hisense is considered one of the main ones, the newspaper wrote.

According to the source, at the beginning of the year, Bosch "launched an internal tender" and defined the main applicants, among which, in addition to Hisense, were, in particular, Midea, also from China, as well as an unknown Turkish investor.

"Midea did not make a worthy financial offer, the Turkish investor, on the contrary, offered a large amount, but Hisense, which is developing joint projects with Bosch around the world, won" Kommersant's source noted.

The source of the newspaper also specified, without disclosing details, that Hisense came up with "the most convenient conditions for the buyback if Bosch wants to return."

BSH Household Instruments LLC clarified that the factories have not yet been sold and that the company is now "considering various options in accordance with the requirements of the law." The company noted that they could not comment "until the final decision is made." Hisense and Midea did not respond to inquiries.

In 2022, the German multinational company Robert Bosch GmbH announced the suspension of its activities in Russia.

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