HPE to sell 49% H3C stake to UNIS for $3.5B cash

Hewlett Packard Enterprise Co

HPE subsidiaries sign agreement to sell 49% stake in H3C Technologies to UNIS for $3.5B in cash.
Transaction subject to Chinese regulatory approvals, antitrust clearance, UNIS shareholder vote; closing target within 180 days.
HPE to use proceeds for organic/inorganic investments, return of capital, or debt repayment.
HPE had exercised put right under 2016 shareholders' agreement; H3C is a Chinese IT infrastructure company.
If UNIS defaults on payment, it must pay interest with daily accrual and monthly compounding.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Hewlett Packard Enterprise Co entered into Put Share Purchase Agreement with Unisplendour International Technology Limited (UNIS) valued at total cash consideration of USD $3.5 billion (effective 2023-05-26).

Action: entry
Agreement: asset purchase
Counterparty: Unisplendour International Technology Limited (UNIS)
Value: total cash consideration of USD $3.5 billion
Effective: 2023-05-26

Exact text from the filing

On May 26, 2023, H3C Holdings Limited (“H3C Holdings”) and Izar Holding Co. (“Izar”, and together with H3C Holdings, the “HPE Parties”), each a wholly-owned subsidiary of Hewlett Packard Enterprise Company (“Hewlett Packard Enterprise”, “HPE”, or the “Company”), entered into a Put Share Purchase Agreement (the “Share Purchase Agreement”) with Unisplendour International Technology Limited (“UNIS”), a Hong Kong incorporated company and subsidiary of Unisplendour Corporation, an information technology services company, governing the sale of all of the shares of H3C Technologies Co., Limited (“H3C”) held by the HPE Parties (the “Shares”), which represent 49% of the total issued share capital of H3C.

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Source: SEC EDGAR

accession 0001645590-23-000050

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