Vinda Int'l gets $3.35 bln bid from Indonesian billionaire Tanoto-run fund (updated)

Vinda International Holdings

15/12/2023 24:14

(Adds details and background from paragraph 2 onwards)
       Dec 15 (Reuters) - Hong Kong's Vinda International
 3331.HK  said on Friday Indonesian billionaire Sukanto
Tanoto-owned Royal Golden Eagle has made an offer to acquire the
tissue and diaper maker for a maximum HK$26.13 billion ($3.35
billion).
    Vinda had confirmed last month that its parent company
Essity AB  ESSITYa.ST  held preliminary discussions with a
number of third parties for a sale of the Swedish company's
majority stake in Vinda.
    Essity said in a separate statement that it supports the
offer and has signed an undertaking to accept the offer for all
of its 51.59% shareholding in Vinda.
    The buyout offer is expected to generate cash proceeds to
Essity of about HK$15 billion.     

($1 = 7.8066 Hong Kong dollars)

 (Reporting by Echha Jain in Bengaluru; Editing by Rashmi Aich
and Subhranshu Sahu)
 ((Echha.Jain@thomsonreuters.com;))