Housewares Business-to-business magazine for housewares retailers and their suppliers
Groupe SEB has been given the go-ahead by China’s Ministry of Commerce to raise its interest in Chinese manufacturer Supor.
The French owner of, amongst other brands, Tefal, Rowenta, Krups and Moulinex, will now own 71.31% of the capital of Supor, China’s largest cookware manufacturer and one of its biggest producers of small kitchen appliances.
When Groupe SEB first announced its intention to take Supor over, in 2007, it was accused by other Chinese cookware manufacturers of trying to put them out of business.
The deal is now in the process of being reviewed by the China Securities Regulatory Commission.
