Home Depot Reportedly Shows Interest In Buying Into Chinese Chain

Feb. 23, 2006
Home Depot Inc., Atlanta, is reported to be in talks to buy a stake in a Chinese retailing chain, according to an article reported in The Financial Times.

Home Depot Inc., Atlanta, is reported to be in talks to buy a stake in a Chinese retailing chain, according to an article reported in The Financial Times.

The Financial Times reported that Atlanta-based Home Depot is in talks to buy up to 49 percent of Chinese retail chain Orient Home, whose parent firm is Orient Group Inc., for more than $200 million.

A Home Depot spokesman was reported as saying the company does not comment on rumor or speculation. In June 2005, press reports in China also said Home Depot was interested in buying a stake in Orient Home, which had at least 27 stores across China.

Last month, in its largest acquisition yet, Home Depot agreed to buy Hughes Supply, a distributor of construction, repair and maintenance products, for $3.47 billion.