International Paper to sell its Brazilian corrugated packaging businessChristian Fernsby ▼ | March 31, 2020
International Paper has entered into an agreement to sell its Brazilian corrugated packaging business to Klabin for R$330 million, with R$280 million to be paid at closing and R$50 million one year thereafter, subject to certain adjustments.
Mill International Paper
Topics: International Paper Brazil
This agreement follows International Paper's previously announced strategic review of the Brazil packaging business.
The transaction is expected to close in the second half of 2020, subject to certain closing conditions and regulatory approvals.
The company will continue to run its Papers and Forestry businesses in Brazil. ■