(Bloomberg) -- U.S. private equity firm Platinum Equity is in talks to buy HNA Group Co.’s Ingram Micro Inc. in a deal that values the technology distributor at about $7 billion, including debt, according to people with knowledge of the matter.

Discussions are ongoing and talks could still fall apart, said one of the people, who asked to not be identified because the matter isn’t public.

Representatives for HNA, Ingram Micro and Platinum Equity declined to comment..

HNA, a Chinese conglomerate facing scrutiny by its government, has shed billions of dollars of holdings in real estate, among other industries, after a global acquisition spree left it debt-ladened.

HNA acquired Ingram Micro in 2016 in an all-cash deal worth about $6 billion.

Platinum Equity is a Beverly Hills, California-based buyout firm run by Tom Gores, who is worth about $5.1 billion, according to the Bloomberg Billionaires Index.

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