Brazil's Suzano mulls M&A opportunities totaling $3 billion, CEO says
SAO PAULO, May 9 (Reuters) - Brazilian pulpmaker Suzano (SUZB3.SA), opens new tab is assessing opportunities for merger and acquisitions that total $3 billion, Chief Executive Beto Abreu said on Friday, although taking a more "strict" stance on their returns given global uncertainties.
Suzano is interested in sectors like packaging, tissue, fluff pulp and in the textile market, Abreu told journalists in a conference call after the company reported lower-than-expected first quarter core earnings.
Suzano, one of the world's largest pulpmakers, entered talks last year to buy International Paper (IP.N), opens new tab but did not reach a deal due to the lack of a price agreement between the parties.
The Brazilian company has done billionaire disbursements in the past few years on acquisitions and output expansion, a move that also raised some caution among analysts about its leverage ratio.
Last month, Reuters reported, citing sources, that Suzano was among the final bidders for Kimberly-Clark's (KMB.N), opens new tab international tissue business.
Sao-Paulo traded shares of Suzano were down 1.5% on Friday.
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