Kimberly-Clark Pumps Brakes on Sale of European Tissue Business

The Dallas Business Journal states that according to a report from the Financial Times, Kimberly-Clark Corp. is pumping the brakes on the sale of its European tissue business.

In October, reports indicated that Kimberly-Clark (NYSE: KMB), which is headquartered in Irving, TX, was shopping around the unit to private equity firms. Centerbridge Partners and a consortium of PAI Partners and Goldman Sachs Capital allegedly expressed interest and were shortlisted for the sale process. Bloomberg said Kimberly-Clark expected bids for its European tissue business to range between $1.2 billion to roughly $2.32 billion in October.

However, Kimberly-Clark could be calling off the sale after receiving bids below the desired asking price, according to the FT.