Waterford Wedgwood approves All-Clad sale

Waterford Wedgwood today approved the sale of its US subsidiary All-Clad.

The cookware company will be sold to Groupe SEB, for approximately $250m.

A resolution was approved by stockholders at the Extraordinary General Meeting in the Shelbourne Hotel in Dublin today to approve the sale of All-Clad on the terms previously announced.

All of the net proceeds of the sale will be applied to reduce senior debt.

Today Waterford Wedgwood closed down 1c at €0.15c.