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SCA secures 56.33% ownership and completes offer for Chinese tissue manufacturer Vinda

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SCA secures 56.33% ownership and completes offer for Chinese tissue manufacturer Vinda

November 06, 2013 - 07:49
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STOCKHOLM, Oct. 28, 2013 (Business Wire) - SCA has secured an ownership share of 56.33 % in the Chinese tissue manufacturer Vinda, signifying that the terms for completion of the offer have been met.

The acceptance period expires on November 11, 2013.

On September 9, 2013, SCA announced that the company was planning to make a cash offer for Vinda, which is China's third largest tissue manufacturer. The complete prospectus was published on October 7, 2013.

Prior to the publication of the offer, SCA held approximately 21.7% of the shares in Vinda.

SCA is a leading global hygiene and forest products company. The Group develops and produces sustainable personal care, tissue and forest products. Sales are conducted in about 100 countries under many strong brands, including the leading global brands TENA and Tork, and regional brands, such as Lotus, Libresse, Tempo and Libero. As Europe's largest private forest owner, SCA places considerable emphasis on sustainable forest management. The Group has about 36,000 employees and sales in 2012 amounted to SEK 85bn (EUR 9.8bn). SCA was founded in 1929, has its headquarters in Stockholm, Sweden, and is listed on NASDAQ OMX Stockholm.