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International Paper Co. to sell 50% interest in Russian manufacturer for $484M

Yahoo! Finance
In March 2022, International Paper (IP) announced it would “explore strategic options” for its 50% joint venture interest in the Ilim Group, a Russian producer of pulp and paper. According to a press release, IP has entered into an agreement to sell its 50% interest in Ilim SA — the holding company for its Ilim joint venture — for $484 million in equity value. The manufacturer is selling its stake to its partners in the joint venture, and the sale is subject to regulatory approvals in Russia.
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