Insiders reveal that Southeast Asia's Royal Golden Eagle (RGE), Asia Pulp & Paper (APP), and Brazilian pulp giant Suzano (SUZB3.SA) are the final bidders for Kimberly-Clark's (KMB, Financial) international tissue business, valued at approximately $4 billion. These companies are conducting due diligence and are expected to submit binding offers by mid-May.
Kimberly-Clark, known for its Kleenex tissues, has engaged Goldman Sachs (GS) and Centerview Partners to manage the sale. This international tissue division sale is part of Kimberly-Clark's restructuring plan initiated last year. The division reportedly generates an annual EBITDA of around $500 million.
Kimberly-Clark, headquartered in Irving, Texas, did not respond to requests for comment. RGE, based in Singapore, and Suzano, a Brazilian pulp manufacturer, both declined to comment, while APP from Indonesia has not responded. Goldman Sachs and Centerview Partners also refused to comment on the matter.