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China's Shanghai Jahwa Group in talks to buy Mayborn stake

China's Shanghai Jahwa Group in talks to buy Mayborn stake
April 13, 2016
SHANGHAI – Chinese chemical products maker Shanghai Jahwa United Co (600315.SS) said on Wednesday its controlling shareholder is in talks to buy a stake in Mayborn Group, which controls baby product maker Tommee Tippee. In a statement to the Shanghai stock exchange, Jahwa denied that it was in talks to buy Tommee Tippee for close to 300 million pounds ($428 million), which was reported on Tuesday by Sky News. Instead, Jahwa said its controlling shareholder, Shanghai Jahwa Group, was in talks to buy a holding in Mayborn Group, but that "there was still a lot of uncertainty". Mayborn Group is controlled by British private equity firm 3i (III.L). Jahwa did not elaborate. –Reuters
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