Groupe SEB buys 55% in Maharaja Whiteline

France-based Groupe SEB on Monday said it has acquired 55 per cent equity stake in Maharaja Whiteline, a leading producer of small electrical appliances in India, for an undisclosed amount. The transaction gives Groupe SEB a foothold in the local small electrical appliance market, which is expanding at an annual rate of 15 per cent. While the acquisition gives SEB a controlling interest in Delhi-based Maharaja, the remaining shares will be held by founder Harish Kumar and family. Harish Kumar will also continue to serve as the Chairman and Chief Executive Officer.