Essity has initiated the sale process for its 52 per cent 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 per cent of Essity’s total revenues in 2022.
Last month Essity announced it had initiated a strategic review of its stake in Vinda and its Consumer Tissue Private Label Europe business.
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