International Paper to sell its stake in Ilim to Russian partners for $484 million
MOSCOW, January 25 – RIA Novosti. The American company International Paper is selling its 50% stake in the Ilim group to Russian partners for 484 million dollars. Press release American company.
The company also received a statement of interest from its joint venture partners to purchase shares in another related entity (2.39% stake) for $24 million on agreed terms. The company plans to enter into an agreement on the sale of shares in OAO Ilim Group, as well as other minor residual shares associated with Ilim, to joint venture partners.
International Paper Company is an American pulp and paper company, the largest in the world. The company has approximately 56,000 employees and is headquartered in Memphis, Tennessee.
Ilim Group is one of the leading companies in the Russian pulp and paper industry. In particular, the group includes three pulp and paper mills (in the Arkhangelsk and Irkutsk regions) and two corrugated board mills (in the Leningrad and Moscow regions).
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