Royal Golden Eagle Offers $3.35 Billion to Acquire Vinda International

Vinda's two largest shareholders, Essity and founder Li Chao Wang, have agreed to the offer, with completion expected in mid-2024.

Indonesian billionaire Sukanto Tanoto's Royal Golden Eagle (RGE) has offered to acquire Hong Kong's Vinda International for up to HK$26.13 billion ($3.35 billion).
The offer price of HK$23.50 a share from RGE's Isola Castle unit was at a 13.5% premium to Vinda's closing price on Thursday.
Vinda's two largest shareholders, Swedish tissue maker Essity and Vinda's founder Li Chao Wang, which own 72.63% of the company, have irrevocably agreed to accept the offer.
The deal is subject to approval by regulatory authorities, including in China, and is expected to be completed in mid-2024.
RGE has stated it has no plans to overhaul Vinda's operations, including any major changes in Vinda's management or employees.