International Paper Reaches Agreement to Sell Its Brazilian Corrugated Packaging Business – Yahoo Finance

MEMPHIS, Tenn., March 29, 2020 /PRNewswire/ — International Paper (NYSE: IP) has entered into an agreement to sell its Brazilian corrugated packaging business to Klabin S.A. for R$330 million, with R$280 million to be paid at closing and R$50 million one year thereafter, subject to certain adjustments. This business includes three containerboard mills and four box plants. This agreement follows International Paper’s previously announced strategic review of the Brazil packaging business.

International Paper logo. (PRNewsfoto/International Paper)