* Private equity firms reported to bid $22 bln for SCA
* SCA shares jump as much as 9.8 pct
* SCA declines to comment
(Adds detail, shares, valuation)
STOCKHOLM, April 13 A group of private equity
companies have bid around 200 billion Swedish crowns ($22.3
billion) for the hygiene arm of tissue and forestry products
firm SCA, Swedish daily Dagens Nyheter said, citing
Sweden's SCA last week formally approved a proposal to split
into two listed units, a hygiene products firm, called Essity,
and a forestry company carrying the SCA name.
SCA has said it aims to list Essity as soon as possible, and
during the second half of 2017 at the latest.
"At least two private equity companies together have bid
around 200 billion crowns for the hygiene unit," Dagens Nyheter
said in a report that first appeared on its website on Wednesday
night. The newspaper did not name the private equity firms.
Dagens Nyheter said the bid had been made a few weeks ago.
The firm, which counts U.S. firms Procter & Gamble
and Kimberly-Clark among its main rivals, declined to
comment when contacted by Reuters on Thursday.
SCA shares rose as much as 9.8 percent in early trading on
Thursday, and was up 7.2 percent by 0814 GMT, making it the top
performer in the STOXX Europe 600 index.
UBS in a note this week gave Essity an implied equity value
of 154-173 billion crowns based on 702 million outstanding
The group had an overall market value of 194 billion crowns
at market close on Wednesday.
SCA's hygiene business is the world's largest maker of
incontinence pads and the second largest in consumer tissues
such as napkins and toilet paper. Its forestry arm produces
paper, pulp and wood products.
Last year, SCA's hygiene business accounted for 86 percent
of the group's total sales.
($1 = 8.9859 Swedish crowns)
(Reporting by Simon Johnson and Johannes Hellstrom; editing by
Mark Bendeich and Jason Neely)