Kimberly-Clark (KMB) has short-listed three bidders for the sale of its international tissue business, which is valued at about $4 billion, Reuters reported Thursday, citing sources with knowledge of the matter.

The final bidders include Southeast Asia's Royal Golden Eagle and Asia Pulp & Paper, and Brazil's Suzano, according to the report.

The three companies are currently conducting due diligence and are expected to submit binding bids by mid-May, Reuters reported.

Kimberly-Clark has hired Goldman Sachs and Centerview Partners to handle the sale process, according to the report.

Kimberly-Clark, Royal Golden Eagle, Asia Pulp & Paper, Suzano, Goldman Sachs and Centerview Partners did not immediately respond to requests for a comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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