International Paper rises on talks to divest five plants in Europe

** Packaging company International Paper's IP.N shares up 2% at $47.79

** IP says it has entered into exclusive negotiations with a family-owned company to sell its five corrugated box plants in Europe to meet the regulatory commitments for the acquisition of UK rival DS Smith SMDS.L

** Co says it would divest three plants in France, and one each in Portugal and Spain to PALM, which produces container boards

** The companies expect to sign a definitive share purchase deal, with closing expected by the end of Q2 2025

** The sale of the five plants would fulfill all obligations to the European Commission related to the acquisition

** Up to last close, stock had fallen 10.8% YTD