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Article: GROUPE SEB LOOKS TO INVEST IN SUPOR.
- Article from:
- HFN The Weekly Newspaper for the Home Furnishing Network
- Article date:
- August 21, 2006
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Byline: Jennifer White
ECULLY, France-On the heels of the Mirro WearEver acquisition, Groupe SEB is pursuing a majority stake in SUPOR, a Chinese cookware and small appliance manufacturer, a move that will broadly expand its reach into the Asian market.
Groupe SEB will pay about $2.25 per share, corresponding to an investment of about $308.5 million, for the whole operation. This amount will be financed by debt and will not jeopardize the group's solid balance sheet, the company said. SUPOR sells its products directly on the domestic market and also serves as a subcontractor for Western companies.
Groupe SEB said the deal will speed up the ...