The Swedish Tax Agency determined the acquisition cost for shares in SCA AB and Essity AB

SCA informed that the Swedish Tax Agency (Skatteverket) determined the acquisition cost for shares in SCA AB and Essity AB. The determination defines how the acquisition cost for shares acquired before the split in the former forest products and hygiene company SCA AB should be distributed between the shares held in the two companies after the split. The information is valid for Swedish taxation purposes.

According to the determination:

  • of the acquisition cost for shares in SCA AB, Class A, 21% should be allocated to these shares and 79% to the distributed shares in Essity AB, Class A
  • of the acquisition cost for shares in SCA AB, Class B, 20% per cent should be allocated to these shares and 80% to the distributed shares in Essity AB, Class B.

The company’s Annual General Meeting of shareholders voted in favor of the Board of Director’s proposal to split the Group into two listed companies on April 5, 2017.

Earlier SCA informed that conversion of Class A shares in SCA will be limited during the period until the distribution of Essity Aktiebolag.

Friday, June 9, 2017 was the last day for trading in the SCA share with the right to receive distribution of shares in Essity

About SCA:

The company is a leading global hygiene and forest products company. The Group develops and produces sustainable personal care, tissue and forest products. Sales are conducted in about 100 countries under many strong brands, including the leading global brands TENA and Tork, and regional brands, such as Libero, Libresse, Lotus, Nosotras, Saba, Tempo and Vinda. As Europe’s largest private forest owner, SCA places considerable emphasis on sustainable forest management. The Group has about 46,000 employees. Sales in 2015 amounted to more than SEK 115 billion (EUR 12.4 billion). SCA has its headquarters in Stockholm, Sweden, and is listed on NASDAQ OMX Stockholm.

Source: Woodbizforum