Asia Pulp & Paper Is Said to Bid for Stake in Tissue Maker Vinda.

Asia Pulp & Paper Co. has reportedly entered the bidding for a stake in Vinda International Holdings Ltd., a Hong Kong-listed tissue maker. The Indonesian pulp producer has submitted a preliminary proposal to buy Vinda stock from its majority owner, Essity AB, at a price of over HK$20 per share. APP already sells tissues in China under various brands. Other potential suitors may also emerge, and there is no certainty that APP will proceed with a binding bid. Vinda owns one of China's top tissue brands and also produces products for feminine care, baby care, and incontinence. [Extracted from the article]