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Sold its 50% interest to its JV partners for $484 million in cash.
September 19, 2023
By: DAVID SAVASTANO
Contributing Editor, Coatings World and Ink World
International Paper 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 $484 million in cash. In addition, the company completed the sale of its outstanding shares in JSC Ilim Group to its JV partners for $24 million 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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