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Essity to Divest Stake in Vinda
May 17, 2023Essity has initiated the sale process for its 52% stake in Hong Kong-based Vinda International.
Bank of America, Essity’s adviser on the sale of the tissue and diaper manufacturer, has reached out to potential buyers, including a number of private equity funds, Reuters reports. First-round non-binding bids are due by the end of June and could trigger a buyout of the entire company.
As of earlier this week, Essity’s stake in Vinda was valued at more than US$1.7 billion. The company accounted for 16% of Essity’s total revenues in 2022.
About Essity
Essity is a global hygiene and health company that develops, produces, and sells personal care, consumer tissue, and professional hygiene products and solutions. For more information visit www.essity.com.
