* Says binding offer tied to Everbeauty being privatised
* Says deal would boost position in Asia significantly
(Adds detail, background, quote)
STOCKHOLM Feb 25 Sweden's SCA
said on Saturday it had made an offer to buy Taiwan-based
Everbeauty for about $290 million in a deal that would set it
further down the road toward realising goals of expansion in
hygiene products and in emerging markets.
SCA, which makes tissues and baby and incontinence diapers
as well as paper and cardboard, said the binding offer worth
about 1.9 billion Swedish crowns on a debt-free basis was
subject to Everbeauty being privatised under Taiwanese law.
The deal, which would need to be approved by regulatory
authorities, was expected to be closed during the summer of
2012, it added.
"Asia is expected to account for 60 percent of the global
growth within hygiene products," SCA Chief Executive Jan
Johansson said in statement.
"The acquisition of Everbeauty would create good growth
opportunities in a strategic growth market and with this
acquisition, SCA would be the market leader in incontinence care
products in Asia, excluding Japan."
SCA has in recent years aimed to repositon itself as a
hygiene goods group and only last month unveiled the sale of its
packaging unit to Britain's DS Smith in a 1.6 billion
euro ($2.1 billion) deal.
The group, a rival to Kimberly-Clark Corp and
Procter & Gamble and Europe's no.3 diaper maker, in
November also made an offer for Georgia-Pacific's
European tissue business and has said it wants to make more
hyiene acquisitions, mainly in emerging markets.
SCA said Everbeauty had sales of 1.6 billion crowns in 2010
and around 900 employees and would give the group access to an
extensive distribution and sales network as well as production
facilities in China and Taiwan.
Within incontinence care products, Everbeauty was market
leader in Taiwan and number two in China, SCA said. Within baby
diapers, sold under brands such as Sealer, the company held a
number five position in both countries.
($1 = 6.5534 Swedish crowns)
(Reporting by Niklas Pollard, editing by William Hardy)