Essity confirms deal to lift Asaleo stake
Essity has confirmed that discussions to buy additional shares in Australian hygiene and personal products maker Asaleo are at an advanced stage.
Shares in the Swedish tissue maker had been halted by the Nasdaq Stockholm exchange due to non-disclosure of inside information about the issuer or financial instrument.
Essity said it could confirm that the parties had reached an agreement in principle on the acquisition of shares at a price of $A1.40 per share and the payment of a certain share dividend.
"Essity can confirm that the discussions are at an advanced stage and that the parties have agreed on terms and conditions including the price mentioned above," it said in a statement.
Essity in December offered $A1.26 per share for the remaining 63.8 per cent of Asaleo, in which it is the largest shareholder.
Asaleo confirmed discussions on Monday, adding it had granted limited due diligence to Essity.
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