SEB International aquires controlling interest in Supor

French home appliance giant SEB International has acquired a controlling interest in Supor, and now owns 52.74% of the Shenzhen listed cookware manufacturer. It is the first direct acquisition by a foreign company of a majority stake in an A-share listed company, the first partial tender offer on a Chinese Stock Exchange, as well as being the subject of the first anti-monopoly investigation conducted by the Ministry of Commerce of the PRC. The transaction was cleared in the first quarter of 2007 after several months of inquiry, including two hearings involving competitors, suppliers, clients and the opinion of the professional association of the sector. Gide Loyrette Nouel advised SEB International on this deal, while Chen & Co Law Firm advised Supor. Llinks Law Firm acted as PRC counsel regarding securities regulations for SEB.