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Business news for Mon, 24 Dec 2007 & with words access+network. 2 news.

by pages: 1

Actual news

21:00 French, Chinese cook up a deal
Shanghai Daily: Business - shanghaidaily.com
FRENCH cookware producer Groupe SEB has completed a partial tender offer for Zhejiang Supor Cookware Co, China's largest producer of kitchen appliances. The two companies will finish the settlement within this week, Supor said. Under the deal, SEB paid 2.3 billion yuan (US$312 million) to buy a maximum of 49.1 million shares at 47 yuan per share from the public to boost its stake in Supor from 30 percent to 52.74 percent. Seb's investment in Supor, worth a total of 327 million euros (US$469.8 million), will give it access to a sales network across China and localize its production to increase price competitiveness. SEB, which makes Tefal cookware, announced plans to buy 61 percent of Supor last year but the acquisition drew opposition from China's cookware industry amid worries of a monopoly being created. In April, the Ministry of Commerce gave a green light to SEB's plan after a public hearing for more open competition in China's non-strategic industry. Construction on
15:07 French group cooks up Supor deal
Shanghai Daily: Business - shanghaidaily.com
FRENCH cookware producer Groupe SEB has completed a partial tender offer for Zhejiang Supor Cookware Co, China's biggest producer of kitchen appliances. The two companies will settle the deal this week, Supor said. Under the deal, SEB will pay 2.3 billion yuan for a maximum of 49.1 million shares at 47 yuan a share from the public to boost its stake in Supor from 30 percent to 52.74 percent. Seb's investment in Supor, worth a total of 327 million euros, will give it access to a sales network across China and localize its production to increase price competitiveness. SEB, which makes Tefal cookware, announced plans to buy 61 percent of Supor last year but the acquisition drew opposition from China's cookware industry amid worries of a monopoly being created. In April, the Ministry of Commerce gave a green light to SEB's plan after a public hearing for more open competition in China's non-strategic industry. Supor's US$15-million factory in Vietnam, designed to produce 7.9
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