Suzano's deal with Kimberly-Clark was on dependent on JV, says CEO

SAO PAULO, June 5 (Reuters) - Brazilian pulp maker Suzano SUZB3.SA preferred to pursue a joint venture model with Kimberly-Clark as it would enable a combination of complementary competencies, mitigate risks and have minimal impact on its leverage ratio, CEO Beto Abreu told Reuters on Thursday.

Earlier in the day, Suzano said in a securities filing it has agreed to buy 51% of Kimberly-Clark's international tissue business for $1.73 billion.

Suzano expects to close the deal by mid-2026. The company will also have the option to purchase Kimberly-Clark's remaining ownership interest, starting three years after the closing.