Infore Group plans to acquire 11.26% of Jason Furniture Hangzhou (SHA:603816) through the private placement of shares for a consideration of almost 2 billion yuan, according to a Wednesday bourse filing.

Infore Group is an investment firm owned by He Jianfeng, the son of He Xiangjian, the founder of Chinese appliance manufacturer Midea Group (SHE:000333, HKG:0300).

Infore will subscribe to around 104.3 million shares for 19.15 yuan per share in the furniture manufacturer.

After the completion of the transaction, Yingfeng Ruihe Investment will remain as Jason Furniture's controlling shareholder, and He Jianfeng will continue to be its actual controller.