Asia Pacific Resources International Limited agreed to acquire the remaining 92.30% stake in Vinda International Holdings Limited (SEHK:3331) from Essity Group Holding BV, Li Chao Wang and others for HKD 26.1 billion on December 15, 2023. Essity and Mr. Li Chao Wang, the chairman of Vinda, have given irrevocable undertakings to accept the Offer in respect of approximately 72.62% of the issued share capital of Vinda. As on March 4, 2024, The Taiwan Fair Trade Commission approved the deal, with this approval all pre conditions have been satisfied. The transaction is expected to complete mid 2024. BNPP and CICC acted as financial advisors to Asia Pacific Resources International Limited. Benita Yu of Slaughter and May acted as legal advisor to Bank of America Europe Designated Activity Company, Amsterdam Branch the financial adviser to Essity. The tender offer has been commenced on March 8, 2024. The deal is expected to be completed on April 2, 2024. As of March 21, 2024, Essity has completed the divestment of its entire holding of 51.59% of shares in Vinda International for HKD 23.50 per share. As on March 22, 2024, the Offer had been received by the Offeror in respect of 1,004,132,526 Offer Shares representing approximately 90.40% of the Offer Shares and approximately 83.45% of the issued share capital of the Company as at the date of this announcement respectively.

The Hongkong and Shanghai Banking Corporation Limited and Somerley Capital Limited acted as financial advisor to Vinda International Holdings, while Computershare Hong Kong Investor Services Limited is the registrar. Somerley Capital Limited acted as fairness opinion provider to Vinda International Holdings Limited. Merrill Lynch (Asia Pacific) Limited and Bank of America Europe Designated Activity Company, Amsterdam Branch acted as financial advisors to Essity Group Holding BV. Computershare Hong Kong Investor Services Limited acted as registrar to Vinda International Holdings Limited. Amy Ho, Tommy Tam, Ryan Wong, Yi Yang, Ling Ho, Yong Bai, and Dayu Man of Clifford Chance has advised Essity.

Asia Pacific Resources International Limited completed the acquisition of remaining 92.30% stake in Vinda International Holdings Limited (SEHK:3331) from Essity Group Holding BV, Li Chao Wang and others on April 2, 2024..