Swedish Tissue Maker Bids $1.1 Billion for Chinese Peer HONG KONG - The SCA Group, a Swedish tissue and toiletries company, said Monday that it would offer 8.6 billion Hong Kong dollars, or $1.1 billion, to acquire all the shares in the Chinese tissue maker Vinda International. SCA, which also bills itself as the largest private owner of forests in Europe, offered to pay 11 Hong Kong dollars a share for each of the 782 million shares in Vinda it did not already own - a 38.4 percent premium to the Hong Kong company's most recent share price before the bid was announced. SCA already has two seats on the Vinda board and owns a 21.7 percent stake in the company, one of the biggest manufacturers of toilet paper, tissues and paper towels in Hong Kong and mainland China, whose sales last year were 6 billion Hong Kong dollars, or $773 million. Revenue for the company, which also makes diapers and sanitary napkins, has doubled since 2009. With the takeover bid, SCA - which first invested in Vinda before its 2007 initial public offering in Hong Kong - hopes to cash in on rising demand for personal hygiene products in China, a country that continues to experience rapid urbanization and a fast-growing middle class. ""Vinda is a strong player in the Chinese tissue market and has demonstrated healthy growth and profitability,"" Jan Johansson, the president and chief executive of SCA, said in a statement. ""As a majority shareholder, we would see the potential to further strengthen the company to ensure its future competitiveness."" SCA said it intended to retain Vinda's listing in Hong Kong after the deal. Vinda's chairman, Fu An, and chief executive, Zhang Dongfang, have already pledged to sell their shares and options as part of the deal. JPMorgan is handling the offer on behalf of SCA. Vinda's shares closed up 36.9 percent at 10.88 Hong Kong dollars apiece after the deal was announced Monday, just short of SCA's offer price.