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

Reuters

BEIJING (Reuters) - Chinese chemical products maker Shanghai Jahwa United Co 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.

(Reporting by Ben Blanchard; Editing by Alexander Smith)