Hygiene products group Essity said on Wednesday it has initiated a strategic review of its stake in China-based Vinda and its Consumer Tissue Private Label Europe business.
The Swedish company said in a statement the aim of the review is to reduce its Consumer Tissue division’s share of group sales.
“The strategic review includes exploring different options and may result in divestments, although no such decisions have yet been taken,” it said.
Essity is the majority shareholder in Hong Kong-based Vinda with a 52 per cent stake.
Vinda in 2022 accounted for 16 per cent of Essity’s US$15.16 billion turnover, while the Consumer Tissue Private Label Europe business represented 6 per cent.
($1 = 10.2929 Swedish crowns)
- Reporting by Anna Ringstrom, editing by Terje Solsvik, of Reuters.
