HNA Group Co. Ltd. is in talks to sell U.S.-based electronics distributor Ingram Micro Inc. to buyout firm Apollo Global Management LLC, The Wall Street Journal reported, citing people with knowledge of the matter.

The Chinese conglomerate aims to sell Ingram for $7.5 billion, including $1.5 billion of debt. HNA rejected an earlier bid that it deemed to be too low, the sources told the publication.

The sources added that Ingram also attracted interest from other U.S. private equity firms but the negotiations with Apollo seem to be the most advanced, according to the Journal.

In November, HNA was reported to be looking to sell assets in an effort to minimize its debt.