Swedes bid for Hong Kong tissue firm Vinda

SCA’s bid for Vinda values the HKEx-listed company at $1.4 billion.
In addition to tissues, Vinda’s business also includes trading of wood pulp, machinery and household consumable paper, as well as property investment.
In addition to tissues, Vinda’s business also includes trading of wood pulp, machinery and household consumable paper, as well as property investment.

Swedish paper company SCA is bidding for a controlling stake in Vinda International, a Hong Kong-listed maker of pocket tissues and other paper products.

SCA bought 21.7% of Vinda in 2007 and is now offering HK$11 a share to the remaining shareholders, which include Invesco, Morgan Stanley, New China Capital Management, Skagen and Value Partners.

Fu An International, the biggest shareholder, owns 23.8% and is controlled by Vinda’s co-founders, Chao-wang Li and Yi-fang Yu. It is reportedly committed to selling a 2.1% stake.

SCA’s bid represents a premium of roughly 34% over Vinda’s average traded level during the past month and values...

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