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Sweden’s SCA wraps up deal for Vinda
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Sweden’s SCA hygiene and forest products group said yesterday that it has completed its public cash offer for Chinese tissue maker Vinda and now owns 59.95 percent of the shares.
SCA was the second-largest shareholder in Hong Kong-listed Vinda with 21.3 percent when it presented its offer in September.
The offer valued the Chinese company at 1.1 billion euros (US$1.4 billion), corresponding to a premium of around one third for the shareholders.
“Since its beginnings back in 1985, Vinda has grown and captured market shares in the tissue segment,” SCA chief executive Jan Johansson said.
“We see the potential to further strengthen the company.”
According to figures for the first half of this year, the acquisition should lift SCA’s revenue by 6 percent.
SCA controls brands such as Lotus (Europe), Peaudouce (Tunisia and Algeria), Nana (France, Belgium, North Africa and Senegal) and Demak’Up.
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