SCA to float its joint venture in Australia
The leading global hygiene and forest products company SCA and its Australian partner, Pacific Equity Partners (PEP), have decided to float their joint venture in Australia, New Zealand and Fiji on the Australian Securities Exchange (ASX).
A draft of the prospectus for the initial public offering (IPO) was today submitted to the Australian Securities and Investment Commission (ASIC). The listing of the joint venture Asaleo Care (formerly SCA Hygiene Australasia) on the ASX is scheduled to take place in late June or early July 2014.
SCA intends to retain a significant shareholding in Asaleo Care. The Group currently owns 50% of the company. The stock market floatation will dilute SCA’s holding in the company. SCA’s ownership is expected to be approximately 33% following the IPO.
Asaleo Care manufactures and markets consumer tissue and Away-from-Home (AfH) tissue, diapers, feminine care products and incontinence products. Leading brands include TENA, Tork, Sorbent, Libra and Treasures. In 2013, the company reported net sales of AUD 625m (approx. SEK 3.9 billion) and an operating profit of AUD 97m (approx. SEK 610m). The company has about 1,050 full-time employees.
NB: SCA discloses the information provided herein pursuant to the Financial Instruments Trading Act. Submitted for publication on June 2, 2014, at 07:00 CET.
For additional information please contact:
Johan Karlsson, VP Investor Relations, 46 8 788 51 30
Boo Ehlin, VP Media Relations, 46 8 788 51 36
SCA is a leading global hygiene and forest products company. The Group develops and produces sustainable personal care, tissue and forest products. Sales are conducted in about 100 countries under many strong brands, including the leading global brands TENA and Tork, and regional brands, such as Libero, Libresse, Lotus, Nosotras, Saba, Tempo and Vinda. As Europe’s largest private forest owner, SCA places considerable emphasis on sustainable forest management. The Group has about 44,000 employees. Sales in 2013 amounted to approximately SEK 93bn (EUR 10.7bn). SCA was founded in 1929, has its headquarters in Stockholm, Sweden, and is listed on NASDAQ OMX Stockholm. For more information, visit www.sca.com.