MEMPHIS, Tenn., Oct. 30, 2019 /PRNewswire/ -- International
Paper (NYSE: IP) today announced that it has completed the sale of
its controlling interest (21,873,521 shares) in International Paper
APPM Limited (NSE:IPAPPM | BSE:502330), an India-based
printing paper business, to West Coast Paper Mills Limited (NSE:
WSTCSTPAPR) for approximately $85
million. International Paper intends to pursue suitable
alternatives to divest its remaining 20% ownership interest
(7,954,008 shares) in APPM.
About International Paper
International Paper (NYSE:
IP) is a leading global producer of renewable fiber-based
packaging, pulp and paper products with manufacturing operations in
North America, Latin America, Europe, North
Africa and Russia. We
produce corrugated packaging products that protect and promote
goods, and enable world-wide commerce; pulp for diapers, tissue and
other personal hygiene products that promote health and wellness;
and papers that facilitate education and communication. We are
headquartered in Memphis, Tenn.,
employ more than 50,000 colleagues and serve more than 25,000
customers in 150 countries. Net sales for 2018 were $23 billion. For more information about
International Paper, our products and global citizenship efforts,
please visit internationalpaper.com.
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SOURCE International Paper