Groupe SEB announced it will acquire 30% of Supor, a Chinese manufacturer of cookware and small electric housewares.
The acquisition will include Groupe SEB acquiring 25 million shares of Supor from the Su Family, at a cost of 18 RMB per share (approx. US $2.30).
Future plans allow for Groupe SEB to acquire an additional 20% of Supor, so that Groupe SEB will eventually have a 51% stake in the company.
to Daily News