International Paper rises on talks to divest five plants in Europe
ReutersApr 14, 2025 2:06 PM
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
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