Tianjin Tianhai Investment Co, a unit of Chinese aviation and shipping conglomerate HNA Group, announced interest to acquire electronics distributor Ingram Micro for about US$6 billion.

The acquisition is the latest in a string of overseas deals by Chinese firms to sidestep slowing domestic growth, although major acquisition moves involving Chinese investors were cancelled this week.

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The California-based Ingram Micro, which distributes products ranging from Apple's iPhones and Cisco's network equipment, has agreed to be acquired by Tianjin Tianhai in an all-cash deal valued at US$6 billion

The offer of US$38.90 per share from HNA unit Tianjin Tianhai Investment Co Ltd represents a 31.2 percent premium to Ingram's closing price on Wednesday, news agency Reuters has reported.

The deal, however, still requires regulatory approval and Ingram said Tianhai will be required to pay the American company a fee of US$400m if the deal is terminated following a US Committee on Foreign Investment in the United States (CFIUS) investigation.

Analysts, however, believe the deal will be approve considering that as it does not involved security concern because that the vast majority of the products sold by Ingram Micro do not go to high-security customers.

If the deal hurdles regulatory scrutiny, Ingram would be folded into HNA Group, which owns the largest shares in Tianjin Tianhai. The deal will also bolster HNA Group's logistics arm with Ingram's supply chain network.

Last year, Chinese firms spent more than US$100 billion on acquisitions abroad, the most ever, as more firms look to opportunities overseas to sidestep slowing domestic growth. Chinese companies already spent roughly US$55 billion on outbound M&As less than two months into 2016.

TagsHNA, Ingram Micro, China Acquisition