Holding a 30% stake in Chinese company Supor since 31 August 2007, Groupe SEB is launching a partial tender offer for the company in accordance with the Strategic Investment Framework Agreement signed in August 2006 and Chinese securities laws. Supor is listed on the Shenzhen Stock Exchange.
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Following the commission meeting held by the CSRC (China Securities Regulatory Commission) on August 2nd 2007, Groupe SEB received the authorisation to complete the first two parts of its acquisition of holdings in SUPOR.
Groupe SEB’s business continued to improve in the first six months of 2007, in a generally expanding small domestic equipment market. At €1,231 million, sales were up 9.8% for the period at current exchange rates.
“2006 was a positive year for Groupe SEB. First, we met our objectives of sustained organic growth in revenue and improvement in operating margin excluding acquisitions. At the same time, we pursued our acquisitions strategy with one operation completed in the United States and the signature of a major project in China, which is still...
A YEAR OF ROBUST GROWTH, LED ONCE AGAIN BY INTERNATIONAL SALES AND SUPPORTED BY AN UPSWING IN EUROPE
Paris Stock Exchange 2;30 p.m. 4 May 2007
Groupe SEB today was authorised by the Chinese Ministry of Commerce (MOFCOM) to acquire a majority interest in SUPOR, a Chinese cookware manufacturer.
A fast start to the year
French version only. English one coming soon.
The founding shareholders of the Chinese company Supor have expressed their desire to sell a 20% stake of the outstanding shares. Holding already 51.3% of the capital, Groupe SEB has declared to be willing to purchase this complementary stake of the capital.