Bids for K-C’s European tissue unit ongoing

Kimberly-Clark’s European tissue unit will potentially be sold to private equity groups including Goldman Sachs, reports have claimed.

The unit has been put up for sale by the New York-listed company as it seeks to reduce costs and dispose of less profitable businesses.

New-York headquartered private investment company Centerbridge Partners LP and the private equity division of Goldman Sachs Capital Partners are understood to be in the running to making the final bids, in what would be a £1-£2bn deal.

K-C’s tissue brands include Hakle and Tela in Europe, as well Andrex.

K-C declined to comment at this time, and Centerbridge Partners LP and Goldman Sachs Capital Partners were unavailable to comment at this time.

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