April 12, Supor announcement that France SEB M Supor finally have the approval of the Ministry of Commerce. After the acquisition, SEB in France will hold Supor from 52.74 to 61% of the shares, a controlling shareholder. Supor Cookware Co., Ltd., Su Xianze 12 in a telephone interview during a calm tone. He said that this result was largely anticipated, there is no excitement. It is reported that Su Xianze will be “professional manager” as long as the new Supor company.

SEB shareholding from 52.74 to 61%

Show, according to announcement, the Commerce Department agreed in principle to Supor Group, Suzeng Fu, Su Xianze price of 18 yuan per share, respectively, the agreement to transfer the French SEB International, Inc. 9.71%, 4.24%, 0.43% stake, for a total 2532.0116 shares; agreed in principle to Zhejiang Supor Co., Ltd. 18 yuan per share price of SEB to the French International Co., Ltd. private placement of ordinary shares of RMB 4,000 million shares (A) shares; SEB International Inc. agreed in principle to some of France Supor offer to acquire shares of not less than 4860.5459, 6645.2084 shares of not more than.

The French SEB International Strategic Investment Co., Ltd. listed Zhejiang Supor Co., Ltd., the French, according to notice that the international Co., Ltd. will hold Supor from 52.74 to 61% of the shares, become a controlling shareholder. SEB shares held by Supor A 3 year non-transferable.

Announcement said the Ministry of Commerce approved Supor coin apply to the CSRC approval procedures related. Completed, Supor will “foreign investors of listed companies for Strategic Investment” requirements, the Ministry of Commerce within 10 days to obtain the approval certificate of foreign invested enterprises, and to the administrative department for industry and commerce registration.

Acquisition affects peer “nervous”

M & As hit the “monopoly” of sensitive topics, Supor acquisition and Carlyle Xugong had the same on foreign mergers and acquisitions led to a great discussion shortcomings. However, various concessions and Carlyle, the status of private enterprises granted Supor obviously much easier.

Supor France SEB Group since August 14, 2006 signed a strategic cooperation framework agreement, against the acquisition of voice has not been interrupted, the voices against the merger mainly from Ai Shida, double happiness, Shun fat and other cooking utensils China National Hardware Association, vice president of chapter six units. August 29, the six companies in Beijing issued a joint outside the case against the Supor acquisition of emergency declaration. Reasons against M & A focus on worry about the Chinese cookware market monopoly by the French group SEB. This makes the acquisition has become the first case the Ministry of Commerce anti-monopoly investigation. This joint venture cases reported since last September after over 8 months after the approval. Su Xianze said: “Audit is expected, because the Chinese do have a lot of foreign investment norms.”

Do not wear a “foreign monopoly” hat
Mei Xinyu, researcher at the Ministry of Commerce

that there is no need to quote Xugong foreign investment, but also by “foreign monopolies,” questioned the Supor acquisition, then the case with Xugong different meaning is not related to people’s livelihood industry, not a strategic industry, therefore, no need to wear a “foreign monopoly,” the threat of a hat.

For the recent emergence of a large number of foreign M & A cases, Mei Xinyu that this is because foreign companies and cancel the policy of national treatment to foreign super race. In August 2006, the new draft law on corporate income tax has been submitted to the NPC Standing Committee for the first trial, which is very important proposal of domestic and foreign income tax merger. Therefore, foreign companies want to enter the Chinese market as early as possible.

Said Mei Xinyu, Ministry of Commerce oversight and review of the acquisition of four key words: First, national economic security; second key industries; third is well-known marks; Fourth, old Chinese.

Mutually beneficial joint venture

Can be said that the acquisition of Supor Cookware Co., Ltd. is the SEB Group’s hardships, an important measure of contemplating changes. The group announced the acquisition time for action, said that China is a huge consumer electronics market, small household electrical appliances in China this year will increase by 6.6% in total sales, while the figure will rise 44% within 5 years. The implication, the development of the market so quickly, SEB Group, a piece of nature to go. CEO Thierry? Theis said that the acquisition of Supor, SEB Group sales in Asia will reach its more than 30% of total sales, while before, the group in Asia only the total sales turnover of 10%.