STOCKHOLM, May 21, 2019 /PRNewswire/ -- Essity is
divesting its 50% stake in the partly owned company SCA Yildiz in
Turkey to the other part owner
Yildiz.
SCA Yildiz is primarily active in Baby
Care products. In 2018, the company reported net sales of
SEK 364m (TRY 197m). The divestment gives rise to a currency
related loss of approximately
SEK 150m, which will be recognized
as an item affecting comparability in the second quarter of 2019.
This will not impact cash flow or shareholders' equity.
The transaction is subject to customary regulatory approval by
the competition authorities and is expected to be finalized in the
second quarter of 2019.
Essity will retain a presence in Turkey through its wholly owned Professional
Hygiene, Incontinence Products and Medical Solutions operations.
For further information, please contact:
Per Lorentz
Vice President Corporate Communications
+46-8-788-52-51
per.lorentz@essity.com
Johan Karlsson
Vice President Investor Relations
+46-8-788-51-30
johan.ir.karlsson@essity.com
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Essity divests partly
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SOURCE Essity