International Paper Sells Printing & Writing Business
Ticker: INPAP · Form: 8-K · Filed: Mar 27, 2024 · CIK: 51434
| Field | Detail |
|---|---|
| Company | International Paper Co /New/ (INPAP) |
| Form Type | 8-K |
| Filed Date | Mar 27, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1 |
| Sentiment | neutral |
Sentiment: neutral
Topics: divestiture, strategic-shift, sale
Related Tickers: IP
TL;DR
IP selling printing paper biz to One Rock Capital, focusing on packaging.
AI Summary
International Paper Company announced on March 26, 2024, that it has entered into a definitive agreement to sell its printing and writing paper business to an affiliate of One Rock Capital Partners, LLC. The transaction is expected to close in the second half of 2024 and is subject to customary closing conditions. This divestiture is part of International Paper's strategy to focus on its packaging and cellulose fibers businesses.
Why It Matters
This strategic divestiture allows International Paper to streamline its operations and concentrate on higher-growth segments, potentially leading to improved profitability and market focus.
Risk Assessment
Risk Level: medium — The sale is subject to customary closing conditions and regulatory approvals, which could delay or prevent the transaction from closing.
Key Players & Entities
- International Paper Company (company) — Seller
- One Rock Capital Partners, LLC (company) — Buyer
- March 26, 2024 (date) — Announcement Date
- second half of 2024 (date) — Expected Closing Period
FAQ
What is the name of the business segment International Paper is selling?
International Paper is selling its printing and writing paper business.
Who is the buyer of International Paper's printing and writing paper business?
The buyer is an affiliate of One Rock Capital Partners, LLC.
When is the transaction expected to close?
The transaction is expected to close in the second half of 2024.
What are the conditions for the sale to be completed?
The sale is subject to customary closing conditions.
Which business segments will International Paper focus on after the sale?
International Paper will focus on its packaging and cellulose fibers businesses.
Filing Stats: 519 words · 2 min read · ~2 pages · Grade level 9.5 · Accepted 2024-03-26 19:29:00
Key Financial Figures
- $1 — nge on which registered Common Stock, $1 per share par value IP New York Sto
Filing Documents
- d732540d8k.htm (8-K) — 24KB
- d732540dex991.htm (EX-99.1) — 24KB
- 0001193125-24-077836.txt ( ) — 171KB
- ip-20240326.xsd (EX-101.SCH) — 3KB
- ip-20240326_lab.xml (EX-101.LAB) — 17KB
- ip-20240326_pre.xml (EX-101.PRE) — 11KB
- d732540d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit No. Description 99.1 Announcement Issued on March 26, 2024
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. INTERNATIONAL PAPER COMPANY Date: March 26, 2024 By: /s/ Joseph R. Saab Name: Joseph R. Saab Title: Senior Vice President, General Counsel and Corporate Secretary 3