Various Chinese parties are in the race to take over the household appliances division from Philips.

Bloomberg news service reports this on the basis of insiders.

It concerns the department that makes, among other things, the Senseo appliances, as well as air fresheners and vacuum cleaners.

It was already known that Philips wants to get rid of the division.

The company reported last year that it hopes to complete the sale in the third quarter of 2021.

The Chinese investment company CDH Investment, among others, is said to be in the race.

Chinese electronics giant TCL Technology also wants to join the Philips division together with Chinese investment company Citic Capital.

In addition, the Asian investor Hillhouse Capital would be in the running, as well as a fourth bidder, whose name is unknown.

Those interested would have been invited to a second round of bids.

The Asian companies did not want to respond to the news.

Several American and European firms have already expressed interest, according to Bloomberg.

These include PAI Partners and Apollo Global Management.

However, they would have dropped out because they think the asking price of 3 billion euros is too high.

Philips wants to get rid of the household appliances division to be able to focus more on other activities.

In recent years, the company has increasingly focused on medical equipment, among other things.