Kimberly-Clark to sell tissue paper assets in Brazil, Latam -report -Breaking
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© Reuters. Kimberly-Clark’s logo can be seen in Maracay (Venezuela), July 10, 2016. REUTERS/Carlos JassoSAO PAULO, (Reuters) – Kimberly-Clark Corp is looking to sell tissue paper assets in Brazil, Latin America and Latin America. Valor Economico, a newspaper, reported that the company was in discussions with JPMorgan (NYSE) in order to reassess the business.
Although a price has not been determined, market estimates indicate that Kimberly-Clark’s assets have a value between $800m and $1billion, with Brazil representing about $200 million.
American-based firm owns brands like Kleenex or 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.
Reuters reached out to Kimberly-Clark and JPMorgan, but they did not respond immediately.
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