China's Shanghai Jahwa in talks to buy Tommee Tippee -Sky News
(Adds response from 3i Group PLC)
April 12 (Reuters) - Chinese chemical products maker Shanghai Jahwa United Co is in advanced talks to buy Tommee Tippee, which manufactures baby products, for close to 300 million pounds ($428 million), Sky News reported on Tuesday.
The Chinese company is looking to strike a deal with private equity firm 3i Group, the owner of Mayborn Group which controls the Tommee Tippee brand, Sky News said, citing unnamed sources. (http://bit.ly/1SdGBJQ)
It (Other OTC: ITGL - news) said the deal could be announced as soon as this week, although it could be delayed or not even materialise.
3i Group declined to comment on speculation regarding their portfolio companies.
Sky News reported in September that 3i Group planned a strategic review of Mayborn Group, putting it up for sale and valuing it at roughly 275 million pounds.(http://bit.ly/1IKXxvR)
Shanghai Jahwa was not immediately available for comment on the deal talk. ($1 = 0.7009 pounds) (Reporting by Sneha Teresa Johny in Bengaluru; Editing by Alexander Smith)