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...
¬ Haymarket Media Limited. All rights reserved.
