RPT-UPDATE 1-Sweden's SCA bids for China's third largest tissue maker
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* SCA bids $11 HK per share for China's Vinda
* Bid values company at 9.4 bln crowns ($1.4 bln
* Strengthens SCA's focus on tissues, emerging markets
HONG KONG/STOCKHOLM, Sept 9 (Reuters) - Swedish hygiene products firm SCA said on Monday it would make a cash bid for Vinda valuing the Chinese company at 9.4 billion Swedish crowns ($1.41 billion) to boost its presence in the world's second-largest market for tissues.
The 11-Hong Kong dollars ($1.42) per share offer for Vinda International Holdings Ltd represents a 34.5 percent premium over its average closing price over the last month, SCA said in a statement.
The bid is conditional on SCA, - the world's third-biggest supplier of tissues, toilet paper and wipes - getting more than half of Vinda's shares. SCA already owns 21.7 percent of China's third-biggest tissue firm.
"Vinda is a strong player in the Chinese tissue market and has demonstrated healthy growth and profitability," SCA CEO Jan Johansson said.
"As a majority shareholder, we would see the potential to further strengthen the company to ensure its future competitiveness."
SCA has refocused its strategy on tissue and hygiene products in the last few years, selling its packaging and newsprint businesses.
In 2012, SCA bought Georgia-Pacific's European tissue operations, the remaining 50 percent of Chilean hygiene firm PISA and the Asian hygiene business Everbeauty.
Vinda saw its sales grow 26 percent to around 5 billion crowns in 2012. SCA had sales of 85 billion.
SCA, whose rivals include Kimberly-Clark Corp and Procter & Gamble Co, said its 2012 operating profit would have been 9.2 billion crowns including Vinda, up from a reported 8.6 billion.
SCA intends to maintain the listing status of Vinda after the deal.
For the statement click here ($1 = 7.7562 Hong Kong dollars)
($1 = 6.6736 Swedish crowns)
($1 = 7.7562 Hong Kong dollars) (Reporting by Simon Johnson; Editing by Mark Potter)
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