SCA Acquires Remaining 50% Stake of Fine Sancella in the Middle East
Fine Sancella is a leading company in the area of feminine care products in parts of the Middle East under the Nana and Cinderella brands.
June 18, 2014 - SCA announced that it is strengthening its presence in the Middle East by acquiring the outstanding 50% of the joint venture Fine Sancella from Nuqul Group.
The purchase consideration for the outstanding shares amounts to approximately USD 25 million (about SEK 165 million) on a debt-free basis.
Fine Sancella is a leading company in the area of feminine care products in parts of the Middle East under the Nana and Cinderella brands. The company reported sales of about SEK 200 million in 2013.
In a statement SCA said, "Ownership of the entire company strengthens our presence in the Middle East, which is a strategically important emerging market for SCA."
SCA acquired 50 percent of Fine Sancella in 2007.
SCA is a leading global hygiene and forest products company that develops and produces sustainable personal care, tissue and forest products. To learn more, please visit: www.sca.com.
SOURCE: SCA (Svenska Cellulosa AB)