A.O. Smith’s China Business Is Said to Attract Investor Interest

A.O. Smith Corp.’s China business has attracted interest from potential investors including private equity firms, as the US water-heater maker reviews its operations in the country, people familiar with the matter said.

CPE and PAG are among possible suitors considering paying a few hundred million dollars for a majority stake in the business, along with Qingdao-based appliance and electronics manufacturer Hisense Group Holdings Co., the people said, asking not to be identified discussing private information.