Deals
SCA Makes $1.4 Billion Vinda Bid in China Tissue Expansion
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Svenska Cellulosa AB, Europe’s largest paper-tissue maker, made an offer for the rest of China’s Vinda International Holdings Ltd. it doesn’t already own to tap rising demand for hygiene products in Asia.
The Swedish company is offering HK$11 a share in cash for Vinda, representing a 35 percent premium to the average closing price in the past 30 trading days and valuing the Chinese company at 9.4 billion kronor ($1.4 billion), it said in a statement. SCA, based in Stockholm, already owns 21.7 percent of Vinda, the third largest tissue company in China.