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Essity mulls selling Vinda stake and Consumer Tissue Private Label Europe business
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STOCKHOLM (Reuters) – 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
STOCKHOLM (Reuters) – 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% stake.
Vinda in 2022 accounted for 16% of Essity’s 156 billion Swedish crowns ($15.16 billion) turnover, while the Consumer Tissue Private Label Europe business represented 6%.
($1 = 10.2929 Swedish crowns)
(Reporting by Anna Ringstrom, editing by Terje Solsvik)
A divestment is the process of selling off a subsidiary or business unit, often to streamline operations or focus on core activities.
Corporate strategy refers to the overall plan for a company, outlining how it will achieve its goals and objectives, including decisions about resource allocation and business direction.
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