Midea Group restructures assets for possible listing

Midea Group, a major home appliance maker, is restructuring assets worth over 90 billion yuan ($14.4 billion), according to a statement by Guangdong Midea Electric Appliances Co Ltd, a listed company largely owned by the Midea Group.

The move is thought to be a prelude to a possible listing, analysts said.

The group, headquartered in Guangdong province, makes major appliances, small appliances, mechanical and electrical equipment, and is also involved in logistics.

The company has about 200 subsidiaries inside and outside China, the statement said.

In 2011, out of its 90 billion yuan in total assets, major appliances took up about 65 percent, small appliances 25 percent, and the other two business divisions 10 percent, according to a report in the China Business News newspaper.