Groupe SEB Approved to Increase Ownership of China's Supor Jul 8, 2011

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Groupe SEB, maker of small appliances, received Chinese authorization to increase its interest in Supor to 71.31% of the capital, which follows the terms of an agreement signed in February with Supor’s founding shareholders.

The proposed share purchase was approved by 99.84% of Supor’s free-float shareholders, who have the exclusive right to vote on this type of transaction. The purchase is now in the process of being reviewed by the China Securities Regulatory Commission (CSRC).

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