Kimberly-Clark Corp. is
purchasing an additional 5 percent stake in its current 50/50 Australian joint
venture, Kimberly-Clark Australia, for A around $39 million. The company and
its joint venture partner since 1963, Amcor Limited, will exchange options for
the purchase by K-C of the remaining 45 percent stake for $355 million within the
next four years.
The transaction, which is
subject to approval by the Australia Foreign Investment Review Board, is
expected to close effective June 30, 2001. On closing, Kimberly-Clark will
begin consolidating K-C Australia's results.
Explore the May 2001 Issue
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