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MEMPHIS - International Paper Company (NYSE:IP; LSE:IPC) has entered into an agreement to sell its Global Cellulose Fibers business, according to a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission.
The transaction, signed on August 20, involves International Paper and its subsidiaries selling all issued and outstanding equity interests in several entities comprising its Global Cellulose Fibers business to Absorbent Fiber Bidco, Inc. and Absorbent Fiber Acquisitions Canada, Ltd., both subsidiaries of Absorbent Fiber Topco, Inc.
The entities being sold include GCF US Holdings LLC, GCF (Asia) Limited, International Paper Cellulose Fibers (Poland) sp. z o.o., and International Paper Canada Pulp Holdings ULC.
The filing did not disclose the financial terms of the transaction or expected closing date.
International Paper, headquartered in Memphis, Tennessee with EMEA headquarters in London, employs more than 65,000 people across operations in over 30 countries. The company reported net sales of $18.6 billion for 2024.
Earlier this year, International Paper completed its acquisition of DS Smith, which the company described in the press release as creating "an industry leader focused on the attractive and growing North American and EMEA regions."
The information in this article is based on International Paper’s Form 8-K filing and company press release statement.
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