International Paper Reaches Agreement to Sell Ownership Interest in Ilim Joint Venture
Retrieved on:
星期二, 一月 24, 2023
MEMPHIS, Tenn., Jan. 24, 2023 /PRNewswire/ -- International Paper (NYSE: IP) today announced that it has entered into an agreement to sell its 50% interest in Ilim SA, the holding company for its Ilim joint venture (JV), to its JV partners for $484MM (USD) equity value.
Key Points:
- MEMPHIS, Tenn., Jan. 24, 2023 /PRNewswire/ -- International Paper (NYSE: IP) today announced that it has entered into an agreement to sell its 50% interest in Ilim SA, the holding company for its Ilim joint venture (JV), to its JV partners for $484MM (USD) equity value.
- The sale is subject to regulatory approvals in Russia.
- The Company intends to pursue an agreement to sell the JSC Ilim Group shares, and to divest other non-material residual interests associated with Ilim, to its JV partners.
- *2022 full-year unaudited results are $1.11B EBITDA; As of 12/31/22, the unaudited TEV includes $2.45B net debt