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

BEIJING (Reuters) - Chinese chemical products maker Shanghai Jahwa United Co <600315.SS> 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 . Jahwa did not elaborate. (Reporting by Ben Blanchard; Editing by Alexander Smith)