International Paper Completes The Sale of its India-based Printing Paper Business

International Paper (NYSE: IP) today announced that it has completed the sale of its controlling interest (21,873,521 shares) in International Paper APPM Limited (NSE:IPAPPM | BSE:502330), an India-based printing paper business, to West Coast Paper Mills Limited (NSE: WSTCSTPAPR) for approximately $85 million. International Paper intends to pursue suitable alternatives to divest its remaining 20% ownership interest (7,954,008 shares) in APPM.

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