(Bloomberg) -- The parent company of Gree Electric Appliances Inc. plans to sell almost all of its stake in the Zhuhai-based appliance giant in a deal that could be worth up to 43 billion yuan ($6.4 billion), said the company Monday.

A 15 percent stake will be sold at a price no less than the average stock price of the last 30 trading days, Gree Electric said in the statement to the Shenzhen stock exchange. The company did not identify the buyer of the stake.

Currently, parent Gree Group holds 18.22 percent of Gree Electric, according to data compiled by Bloomberg. At its present market valuation of 284 billion yuan, a 15 percent stake in Gree Electric would be worth 42.6 billion yuan.

The transaction will lead to a change of ownership in Gree Electric and Gree Group is still studying the proposal, said the statement. As Gree Group is controlled by the local government, the deal will require approval from the state assets regulator, it said.

Gree Electric shares will resume trading on Tuesday, after being suspended last Monday. Shares were trading at 47.21 yuan when the halt was called.

To contact Bloomberg News staff for this story: Evelyn Yu in Shanghai at yyu263@bloomberg.net

To contact the editors responsible for this story: Rachel Chang at wchang98@bloomberg.net, ;Sam Mamudi at smamudi@bloomberg.net, Charlie Zhu

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