Earlier, in October 2017, International Paper signed a definitive agreement to contribute its North America Consumer Packaging business to Graphic Packaging in a transaction valued at $1.8 billion.
January 2, 2018
International Paper announced on January 2, 2018 that it has completed the transfer of its North America Consumer Packaging business to Graphic Packaging. As a result of the transaction, Graphic Packaging has assumed USD 660 million of IP debt. IP now holds a 20.5 percent ownership interest in the subsidiary of Graphic Packaging that holds the assets of the combined business. The transferred business includes approximately 3,900 employees, two coated paperboard mills and three converting facilities in the U.S., along with one converting facility in the U.K.
Earlier, in October 2017, International Paper signed a definitive agreement to contribute its North America Consumer Packaging business to Graphic Packaging in a transaction valued at $1.8 billion. IP plans to use USD 660 million in cash proceeds from a loan being assumed by Graphic Packaging to pay down existing debt. IP will also receive a 20.5 percent ownership interest valued at USD 1.14 billion in a subsidiary of Graphic Packaging that will hold the assets for the combined business.
