Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market
Exited Exit Completed
International Paper is one of the largest international manufacturers of paper, pulp and packaging made from renewable wood fiber.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market
Exited Exit CompletedThe Memphis, Tennessee-based company in March said it might sell its 50% stake in a major Russian forest products company, but would continue operations in the country. Renewable fibre-based products manufacturer International Paper (IP.N) has sold its 50% stake in a Russia-based joint venture to Russian shareholders, its JV partner Ilim. Ilim named Ilim Global Timber Rus, owned by Zakhar Smushkin and Boris Zingarevich, as the buyer and said the transaction has obtained all required regulatory approvals.
Maintaining operation of joint venture with the largest Russian manufacturer (Ilim Group) of pulp and paper. Exploring options including potential sale of the 50% stake. International Paper Company announced that it entered into an agreement to sell its 50% interest in Ilim SA to its joint venture partners for $484M. The company noted that the sale is subject to regulatory approvals in Russia. International Paper sells Russian JV stake to local shareholders -Ilim Group.