Groupe SEB fully acquires Maharaja Whiteline

Cost of acquisition is not disclosed

French appliances maker Groupe SEB has announced that it is taking full control of domestic firm Maharaja Whiteline by acquiring the remaining 45 per cent stake of the promoter Harish Kumar and his family.

Groupe SEB had acquired 55 per cent stake in Maharaja Whiteline in December 2011 and post deal, it will hold 100 per cent stake.

As per the official statement released by French firm, “Maharaja Whiteline is pleased to announce that an agreement has been finalised with France's Groupe SEB, which will acquire the remaining 45 per cent stake of Maharaja Whiteline.”

However, it has not shared the value of the deal.