Swedish tissue paper maker SCA Group Holding BV said on September 9 that it would bid $1.1 billion for Vinda International Holdings, one of China’s biggest manufacturers of toilet paper, tissues, paper towels, and diapers. Since 2009, Vinda’s revenues have more than doubled on rising consumer demand for personal hygiene products in China, to reach $773 million last year.
SCA Group, the world’s third-largest producer of toilet paper, tissues and wipes, already owns a 21.7 stake in Vinda. If the deal goes through, executives say Vinda will maintain its listing, but operate as a subsidiary of SCA Group. The group plans to present its complete prospectus by September 30.
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