European tissue maker to purchase Vinda

A Swedish hygiene and forest products company is set to purchase a leading household paper manufacturer in a bid to enter the Chinese market.

Vinda International Holdings Ltd has received a purchasing offer from SCA Group Holding BV, the world’s second-largest tissue maker, with a total value at HK$8.65 billion ($1.12 billion), Vinda International said in a statement.

SCA is already the second-largest shareholder of Vinda International with a 21.68 percent stake.

The other main shareholders of Vinda International include Fu An International Co Ltd and its chairman has given an undertaking to SCA to accept the offer, Vinda International said in its announcement.

Vinda will continue to operate its business substantially and maintain its listing status, once the acquisition is completed, the company said.