Hong Kong's Vinda confirms Essity in preliminary talks on stake sale (updated)

Vinda International Holdings

20/11/2023 15:07

(Adds details on stake, background in paragraphs 2-5)
       Nov 20 (Reuters) - Hong Kong-based tissue and diaper
maker Vinda International  3331.HK  on Monday confirmed that
Essity  ESSITYa.ST  has held preliminary discussions with a
number of third parties for a sale of the Swedish company's
majority stake in Vinda.
    Essity's 51.59% stake in Vinda was worth HK$12.14 billion
($1.56 billion) as of Monday's close, according to Reuters
calculations.
    Vinda said the stake sale may lead to an offer for the
company.
    The Swedish company confirmed discussions are ongoing with a
number of interested parties and that no decision regarding the
stake sale had yet been made.    
    Reuters reported in September that Vinda met shortlisted
bidders for Essity's stake.

 ($1 = 7.7949 Hong Kong dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com))