The Administrative Council for Economic Defense (Cade) definitively approved this Tuesday the purchase by Suzano of the tissue paper operations of North American Kimberly-Clark in Brazil, the Brazilian company said in a statement.
The pulp and paper company reported that its main asset in the acquisition is a tissue paper production plant – used in products such as toilet paper – from Kimberly-Clark in São Paulo. The deal had been closed in October.
Cade had issued a favorable opinion on the purchase at the end of March, however, final approval was subject to the condition that no appeal was filed within a period of 15 days from the publication of the decision in the Federal Official Gazette.
“The main asset contemplated in the operation refers to a tissue factory located in Mogi das Cruzes (SP), with an installed capacity of approximately 130 thousand tons per year and the ‘Neve’ brand”, said Suzano in the document.
The announcement also includes that Kimberly-Clark is licensing some of its global brands used in Brazil, such as Scott and Kleenex, to Suzano, for a specified period.
Kimberly-Clark confirmed Cade’s approval and said that completion of the transaction will be subject to other contractual conditions precedent. “We hope it will happen as soon as possible,” the company said in a statement.
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