Clark Corp. has agreed to sell a majority stake in its global Kleenex and tissue businesses outside of North America to a newly-formed venture with Brazilian pulp supplier Suzano SA.The transaction values the assets under Kimberly-Clark’s International Family Care and Professional unit at $3.

Kimberly-Clark Corp. is forming a joint venture with Suzano SA that will see it sell a majority stake in its global Kleenex and tissue businesses outside

Kimberly-Clark, the supplier of paper-based consumer staples, will receive a cash infusion as it restructures to cut costs and expand its US manufacturing capacity. For Suzano, the deal gives it an international platform to expand further into products that use its pulp output.