Swedish company Essity has started the sale process for its 52% stake in Hong Kong-based Vinda International.
Essity’s adviser on the sale, has sent information to potential buyers including a number of private equity funds. The stake is worth $1.7 billion as of Tuesday, May 16.
First-round non-binding bids are due by the end of June, according to one of Reuters sources.
The Swedish maker of hygiene products stated last month, that they had initiated a strategic review of its stake in Vinda (here).
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 further on the matter.
Vinda’s core business include tissues, sanitary napkins and adult and baby diapers. It has 8 brands and 13 production bases, 10 of which are in China, according to the company’s website.
Vinda in 2022 accounted for 16% of Essity’s 156 billion Swedish crowns ($15.2 billion).
Source: reuters.com
