Hong Kong-based tissue and diaper maker Vinda International on Monday confirmed that Essity has held preliminary discussions with a number of third parties for a sale of the Swedish company’s majority stake in Vinda.
Essity’s 51.59% stake in Vinda was worth HK$12.14 billion ($1.56 billion) as of Monday’s close, according to Reuters calculations.
Vinda said the stake sale may lead to an offer for the company.
The Swedish company confirmed discussions are ongoing with a number of interested parties and that no decision regarding the stake sale had yet been made.
Reuters reported in September that Vinda met shortlisted bidders for Essity’s stake.