Regulatory approvals granted for Vinda public offering
In December 2023, Essity announced that Isola Castle Ltd would make a pre-conditional public offer to Vinda's shareholders
Last Monday the 4th, Isola Castle Ltd, together with Vinda International Holdings Limited (Vinda), announced that the necessary regulatory approvals were obtained for the public offering of Vinda shares.
On December 15, 2023, Essity announced that Isola Castle Ltd, a company indirectly wholly owned by Asia Pacific Resources International Limited (APRIL), would make a pre-conditional public offer to the shareholders of Vinda International Holdings Limited to acquire the company’s shares for a price per share of HK$23.50.
Essity stressed that it supports the offer and signed an irrevocable undertaking to accept it in respect of its entire 51.59% stake in Vinda. The public offer price will correspond to an equity value of Vinda of approximately HK$28.3 billion (SEK37.3 billion). The transaction is expected to generate cash proceeds for Essity of approximately HK$15 billion (SEK 19 billion).
