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Large Medium SmallHaier Group, a home appliance company, announced on Tuesday that it wants to buy all shares in Fisher & Paykel Appliances Holdings Ltd that it does not already hold for NZ$1.20 ($0.97) apiece.
The offer is to open in the next 14 to 30 days, according to a statement from Haier.
Haier became a shareholder of Fisher & Paykel in 2009, with about a 20 percent stake in the company.
"Haier will profit from the closer alliance with Fisher & Paykel Appliances," said Liang Haishan, director of Haier and president of Haier White Goods Group.
Chen added that, amid the current economic slowdown, resolving trade frictions through negotiations would be a win-win situation.
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