International Paper Completes Sale of Ownership Interest in Ilim Joint Venture
Press release from the issuing company
MEMPHIS, Tenn. -- International Paper today announced that it has completed the sale of its 50% interest in Ilim SA, the holding company for its Ilim joint venture (JV), to its JV partners for $484MM (USD) in cash.
In addition, the Company completed the sale of its outstanding shares in JSC Ilim Group to its JV partners for $24MM (USD) in cash and is divesting other non-material residual interests associated with Ilim.
With the completion of these transactions, International Paper has divested all of its ownership interests in Ilim.
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