(Reuters) – RRJ Capital is in talks with Chinese conglomerate HNA Group Co [HNAIRC.UL] to lead a $4 billion investment in U.S. electronics distributor Ingram Micro Inc, Bloomberg reported on Saturday, citing people familiar with the matter.

The group led by Hong Kong-based RRJ will invest through an HNA bond that can be converted into close to 50% of Ingram Micro’s shares, Bloomberg reported bloom.bg/2NtC3Bz.

Faced with soaring debts and China’s crackdown on aggressive dealmaking firms, airlines-to-finance conglomerate HNA has been pushing ahead with a series of asset sales that have so far included real estate and stakes in hotel groups.

RRJ Capital, HNA Group and Ingram Micro were not immediately available for request seeking comments.