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