Royal Golden Eagle considers buyout offer for China tissue maker Vinda - Bloomberg

Vinda International Holdings

19/10/2023 10:28

SINGAPORE/BEIJING, Oct 19 (Reuters) - Royal Golden Eagle
(RGE), a Singapore-headquartered group owned by Indonesian
billionaire Sukanto Tanoto, is considering an offer for tissue
maker Vinda International  3331.HK , Bloomberg reported on
Thursday, citing people with knowledge of the matter.
    The report comes after stock exchange filings showed RGE's
managing director Belinda Tanoto, the daughter of Tanoto, has
built a 7% stake in Hong Kong-listed Vinda via Beaumont Capital
Fund in recent weeks. 
    Shares of Vinda have dropped 15.2% year-to-date, giving it a
market capitalization of nearly $3 billion, LSEG data shows.
    Beaumont Capital and RGE are separate entities, according to
two sources with knowledge of the matter. A Beaumont
spokesperson told Reuters that Beaumont Capital is an investment
holding company owned by Belinda. 
    "Beaumont Capital Fund Ltd is an investment holding company
which seeks to invest across a range of asset classes and
sectors, in both private and public markets," the Beaumont
spokesperson added.
    RGE said it declined to comment on market speculation.
    The entry of Beaumont Capital as a shareholder in Vinda
comes amid a bidding process for Sweden's Essity's  ESSITYa.ST 
52% stake in the company. 
    The sale process has drawn bidders including Brazilian pulp
maker Suzano  SUZB3.SA  and private equity firms Bain Capital,
CVC Capital Partners and DCP Capital. 
    Founded by Tanoto in 1973, RGE has grown to become a group
of resource-based manufacturing companies in businesses ranging
from pulp and paper to energy with more than $30 billion in
assets and 60,000 employees, according to its official website.
    

 (Reporting by Yantoultra Ngui in Singapore and Roxanne Liu in
Beijing; editing by David Evans)
 ((Yantoultra.Ngui@thomsonreuters.com;))