Kimberly-Clark to sell tissue paper assets in Brazil, Latam -report
2022.05.20 15:26
The logo of Kimberly-Clark is seen in Maracay, Venezuela, July 10, 2016. REUTERS/Carlos Jasso
SAO PAULO (Reuters) – Kimberly-Clark Corp (NYSE:KMB) is planning to sell its tissue paper assets in Brazil and Latin America, newspaper Valor Economico reported on Friday, saying the company is in talks with JPMorgan (NYSE:JPM) to reassess its business in the region.
Though a price tag is yet to be decided, market estimates suggest Kimberly-Clark’s assets are valued at between $800 million and $1 billion as a whole, with Brazil accounting for about $200 million, Valor said.
The U.S.-based company owns brands such as Kleenex and Neve.
Valor said Brazilian pulpmaker Suzano SA, Chile’s CMPC-owned Softys, Nine Dragons Paper, Oji Holdings Corp, RGE and J&F Investimentos are among those interested in Kimberly-Clark’s Brazilian assets, citing sources familiar with the matter.
Kimberly-Clark, JPMorgan and all companies named by Valor did not immediately respond to Reuters requests for comment.
