Essity mulls selling Vinda stake and Consumer Tissue Private Label Europe business (updated)

Vinda International Holdings

26/04/2023 14:02

(Adds detail)
       STOCKHOLM, April 26 (Reuters) - Hygiene products group
Essity  ESSITYb.ST  said on Wednesday it has initiated a
strategic review of its stake in China-based Vinda  331.HK  and
its Consumer Tissue Private Label Europe business.
    The Swedish company said in a statement the aim of the
review is to reduce its Consumer Tissue division's share of
group sales.
    "The strategic review includes exploring different options
and may result in divestments, although no such decisions have
yet been taken," it said.
    Essity is the majority shareholder in Hong Kong-based Vinda
with a 52% stake. 
        Vinda in 2022 accounted for 16% of Essity's 156 billion
Swedish crowns ($15.16 billion) turnover, while the Consumer
Tissue Private Label Europe business represented 6%.
  
        
  
($1 = 10.2929 Swedish crowns)

 (Reporting by Anna Ringstrom, editing by Terje Solsvik)
 ((anna.ringstrom@thomsonreuters.com; +46 8 502 423 74; Reuters
Messaging: anna.ringstrom.thomsonreuters.com@reuters.net))