France’s Groupe SEB Takes Imusa Stake

France-based household equipment maker Groupe SEB says it is acquiring a majority stake in Colombian peer Imusa from investment firm Industrias Arfel, also based in Colombia. The buyer plans to launch a delisting offer through which it expects to acquire at least 94.17% of Imusa, it says. The companies have not announced the sale price, but the local press says SEB will pay about $96m equivalent for the stake, citing Imusa president Juan David Vieira. SEB says Imusa’s revenues as of the 9-months ended September 20 totaled $85m, a 15% increase over the same period the previous year. The deal is expected to close in March. An Imusa spokeswoman did not respond to questions about the sale price and advisors on the transaction. Imusa officials were not available for comment.