3i Group to sell Mayborn unit to Shanghai Jahwa for $197 mln: Reuters

(Reuters) — British private-equity firm 3i Group Plc said on Thursday it would sell its Mayborn Group unit to Chinese chemical products maker Shanghai Jahwa United Co .

3i said it would get proceeds of 135 million pounds ($197 million) from the sale of Mayborn Group, which controls baby products maker Tommee Tippee.

Reuters reported in April that Jahwa’s controlling investor was in talks to buy a stake in Mayborn Group. Sky News reported separately that Jahwa would pay close to 300 million pounds ($428 million) to complete the deal.

Mayborn Group was taken private by 3i in 2006. Tommee Tippee’s feeding, hygiene and soothing products are sold in more than 70 countries, according to 3i. ($1 = 0.6853 pounds)