STOCKHOLM, Nov. 11, 2013 (Business Wire) - SCA has completed its offer for the Chinese tissue manufacturer Vinda and is now the majority shareholder with 59.95% of the shares.
SCA is now the majority shareholder of Vinda, which is the third largest tissue company in China. China is the second largest tissue market globally.
"It is positive that we are now the majority shareholder of Vinda. We see the potential to further strengthen the company. Vinda is a well-known and well-managed company in the fast-growing Chinese market," says Jan Johansson, President and CEO of SCA.
"Since its beginnings back in 1985, Vinda has grown and captured market shares in the tissue segment. SCA aims to develop collaboration with Vinda and utilize its extensive and robust distribution network," says Jan Johansson.
SCA will consolidate Vinda as of the first quarter of 2014.
For more details, read the joint announcement included below.
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this joint announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this joint announcement.
This joint announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of Vinda nor shall there be any sale, purchase or subscription for securities of Vinda in any jurisdiction in which such offer, solicitation or sale would be unlawful absent the filing of a registration statement or the availability of an applicable exemption from registration or other waiver. This joint announcement is not for release, publication or distribution in or into any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.
SCA Group Holding BV Vinda International Holdings Limited