International Paper to Explore Strategic Options for Ownership Interest in Ilim Group

Rhea-AI Summary

International Paper (NYSE: IP) announced its intent to explore strategic options regarding its 50% stake in Ilim Group. The company clarified that it will not pursue any operational suspension, liquidation, or bankruptcy of Ilim Group. This move reflects a strategic consideration aimed at optimizing its investment portfolio while continuing to support its core operations.

Positive

• Exploration of strategic options for the 50% stake in Ilim Group may enhance shareholder value.

Negative

• None.

MEMPHIS, Tenn., March 11, 2022 /PRNewswire/ -- International Paper (NYSE: IP) announced its intention to explore strategic options, including the possible sale, of its 50% ownership interest in Ilim Group. International Paper has no intention to seek suspension of operations or initiate any liquidation or bankruptcy proceedings with respect to Ilim Group.

About International Paper
International Paper (NYSE: IP) is a leading global supplier of renewable fiber-based products. We produce corrugated packaging products that protect and promote goods, and enable worldwide commerce, and pulp for diapers, tissue and other personal care products that promote health and wellness. Headquartered in Memphis, Tenn., we employ approximately 38,000 colleagues globally. We serve customers worldwide, with manufacturing operations in North America, Latin America, North Africa and Europe. Net sales for 2021 were $19.4 billion. Additional information can be found by visiting InternationalPaper.com.

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SOURCE International Paper

FAQ

What is International Paper's recent announcement about Ilim Group?

International Paper announced its intention to explore strategic options for its 50% ownership interest in Ilim Group.

Will International Paper suspend operations at Ilim Group?

No, International Paper has stated it does not intend to suspend operations or initiate bankruptcy proceedings concerning Ilim Group.

When did International Paper make the announcement regarding Ilim Group?

The announcement was made on March 11, 2022.

What is the stock symbol for International Paper?

The stock symbol for International Paper is IP.