UPDATE 1-SCA says eyeing listing of Australian joint venture

Tue, 11 Mar - 5:58pm

(Adds detail, background)

STOCKHOLM, March 11 (Reuters) - Swedish Hygiene and forest products company SCA and Pacific Equity Partners (PEP) are considering a listing of their Australian joint venture, the companies said.

The joint venture, which was formed in 2011, employs around 1,250 of SCA's total work force of 44,000 people. SCA and PEP each own 50 percent of the company, which has operations in Australia, New Zealand and Fiji.

"No decisions have been taken, but we are investigating the possibilites to do an IPO," an SCA spokesman said.

The company would not comment on a possible timetable for the potential listing nor disclose any financial details for the joint venture. SCA's operations in Australia, New Zealand and Fiji had net sales of 4.4 billion crowns ($689 million in 2010, the last figures released by the company.

The Australian joint venture is organised into business units Consumer Tissue, Personal Care and Tork Professional Hygiene and operates under brands such as Libra and Tena.

Australia is SCA's ninth largest market in terms of sales. ($1 = 6.3869 Swedish Crowns)

(Reporting by Helena Soderpalm; editing by Niklas Pollard)

((helena.soderpalm@thomsonreuters.com)(+46 8 700 10 15)(Reuters Messaging: helena.soderpalm.reuters.com@reuters.net))

Keywords: SCA AUSTRALIA

URN: 
urn:newsml:reuters.com:20140311:nL6N0M80EB:3
Topics: 
CMPNY MEVN FINE1 DEAL1 RTRS BMAT NCYC EUROPE IPO TIM SE TREE STX AU EUROP PPRO NORD ASIA LEN PEPS MRG BACT WEU LIST1 APRE

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