EU approves unconditionally Brazil pulp giant Suzano’s $3.4 billion Kimberly-Clark deal

Brazil’s Suzano, the world’s largest pulp maker, on Monday (11) ​secured unconditional EU antitrust approval ‌for its $3.4 billion joint venture with U.S. diaper and tissue maker Kimberly-Clark, a ​European Commission statement said.

The ​full approval, anticipated by a Reuters ⁠report last week citing unidentified ​sources, is a boost for the ​deal announced in June last year, which will see Suzano take a 51% stake ​in Kimberly-Clark’s international tissue business ​that includes popular brands such as Kleenex.

The ‌deal ⁠is also being investigated by the UK watchdog.

Businesses in recent months have faced intense scrutiny over their deals ​as regulators ​seek ⁠to balance the interests of consumers with geopolitics, sustainability ​benefits, and calls to ​take ⁠a more lenient line to create European champions.

The global paper industry is ⁠also ​facing a wave ​of consolidation as it grapples with falling demand ​and structural overcapacity.

Source: Reuters

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