SCA is making a public cash offer for Vinda, the Chinese tissue manufacturer in which it currently has a 21.7% holding. The offfer is conditional upon SCA achieving an ownership share of Vinda in excess of 50%.
The offer is HKD11 per share, which is a premium of 34.5% based on the average closing price for the company during the last 30 days.
SCA first becamse part owner in the tissue manufactuer in 2007 and is currently the second largest shareholder in the company. Vinda is the third largest tissue company in China, which is the world's second largest tissue market. In 2012, Vinda's sales rose 26.% and amounted to SEK 5 billion ($756 million).
SCA seeking controlling interest in Vinda
Published September 10, 2013
Related Searches: China •