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K-C to Acquire Remaining Interest In South African Affiliate

Kimberly-Clark Corporation (K-C) announced it has reached an agreement to purchase the remaining stake in its South African subsidiary, Kimberly-Clark of South Africa (K-CSA).

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By: Jamie Matusow

Editor-in-Chief

Kimberly-Clark Corporation (K-C) announced it has reached an agreement to purchase the remaining stake in its South African subsidiary, Kimberly-Clark of South Africa (K-CSA), from The Lion Match Company (Proprietary) Limited, a wholly-owned subsidiary of FASIC Investment Corporation Limited. Kimberly-Clark currently owns slightly more than 50% of K-CSA.

The transaction, which is subject to approval by the Competition Commission, is expected to close in the second quarter of 2008. K-CSA has operated as a joint venture between Kimberly-Clark and Lion Match, or predecessor companies, since 1955. Terms of the purchase were not disclosed.

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