Valve maker Spirax-Sarco in talks to buy France's Thermocoax

(Reuters) - Valve maker Spirax-Sarco Engineering Plc said it had started exclusive talks to buy French electrical thermal products maker Thermocoax Developpement for 158 million euros ($178.7 million) to grow in Europe and the United States.

Spirax said it was talking to Chequers Capital, TCR Capital and other minority shareholders to buy Paris-based Thermocoax, which has three plants in Normandy, one in Georgia, United States and a facility in Heidelberg, Germany.

($1 = 0.8843 euros)

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Gopakumar Warrier)