Vinda International held a management presentation last week for potential buyers of a majority stake owned by Swedish Essity. The Swedish company started the sales process, of its 52% stake in the Hong Kong-based tissue and diaper maker, back in May.
Essity’s stake was worth around $1.47 billion as of Wednesday. Essity has not given bidders a deadline for binding offers.
A spokesperson for Essity said the company is “in a process that is proceeding according to plan,” but declined to comment further.