Kimberly-Clark to sell tissue paper assets in Brazil, Latam -report

Nine Dragons Paper (Holdings)

20/05/2022 13:09

SAO PAULO, May 20 (Reuters) - Kimberly-Clark Corp  KMB.N  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 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  SUZB3.SA , Chile's
CMPC-owned  CMPC.SN  Softys, Nine Dragons Paper  2689.HK , Oji
Holdings Corp  3861.T , 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.
    

 (Reporting by Gabriel Araujo; Editing by Kirsten Donovan)
 ((Gabriel.Araujo2@thomsonreuters.com; +55 11 5644 7745;))