HONG KONG : Sweden's Essity has kicked off the sale process for its 52 per cent stake in Hong Kong-based Vinda International - a maker of tissues and diapers, two sources with knowledge of the situation told Reuters.Bank of America, Essity's adviser on the sale, has sent information to potential buyers in
HONG KONG : Sweden's Essity has kicked off the sale process for its 52 per cent stake in Hong Kong-based Vinda International - a maker of tissues and diapers, two sources with knowledge of the situation told Reuters.
Interested parties are looking at potential deal structures and an offer for Essity's 52 per cent stake could trigger a buyout of the entire company, the sources said, although they added that discussions are at a very early stage. An Essity spokesperson said the company is in the early stages of the review and has nothing more to add at this point. He declined to comment on what he called"market rumours".It said on Saturday that it had not received any update on Essity’s strategic review, responding to media reports that Fu An International Co Ltd, Vinda's second-largest shareholder with a 21 per cent stake, was seeking to buy Essity's holding.
Founded in 1985, Vinda's core business segments include tissues, sanitary napkins and adult and baby diapers.
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