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russia

International Paper sells its stake in Russian JV

Article by Birgit Fingerlos (adapted for holzkurier.com; translated by Eva Guzely) | 20.09.2023 - 09:34

International Paper (IP.N), the world’s biggest paper manufacturer, has sold its 50% stake in a Russia-based joint venture to Russian shareholders. International Paper and the Ilim Group used to be strategic partners in this joint venture.

According to Ilim Group, control over the assets of the former joint venture was transferred to the Russian shareholders through the transaction. Financial details were not disclosed, as reuters.com reports.

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