Kimberly-Clark To Sell Majority of $3.4B Global Tissue Business
1. Kimberly-Clark forms joint venture with Suzano, each holding stakes in tissue business. 2. Suzano will own 51% of the new venture, KMB retains 49%. 3. International tissue business expected to generate $3.3 billion in 2024. 4. KMB focuses on higher growth, higher margin segments per CEO statement. 5. KMB shares fell 2% while Suzano's stock rose by 5% post-announcement.