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Essity announces proposal to increase ownership in Asaleo Care Limited
SWEDEN (News release) -- Essity Aktiebolag announced that Essity has made a non-binding indicative proposal to the Board of the hygiene company Asaleo Care Limited ("Asaleo") for the acquisition of additional shares in Asaleo for a consideration of AUD 1.26 per share. Asaleo is listed on the Australian Securities Exchange (ASX). Essity is the largest shareholder of Asaleo, currently holding 36.2% of the shares. Asaleo's current market capitalization on ASX is AUD 549m, based on the closing market price 1.01 AUD on 9 December 2020.
There can be no certainty that any agreement will be reached, that a formal binding proposal will be submitted, or that a transaction will be undertaken. The proposal is not subject to financing conditions. Essity will finance its acquisition of shares through own funds.
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