Deal to sell International Paper’s stake in Ilim is approved

According to a report from Ilim Group, the divestment process for International paper exiting the business is expected to be concluded in April.

The Russian government commission for control of foreign investment has approved the sale of International Paper’s 50% shareholding in Ilim SA to its Russian joint venture-partners.

It is believed the divestment process is in its final stage and is expected to be completed this month.

Ilim SA owns 96.37% of JSC Ilim Group. International Paper and its Russian JV-partner, each own a 50% stake in Ilim SA. Ilim Group confirmed the value of the deal at $484m. The JV partner has also agreed to buy IP’s remaining 2.39 per stake in┬áJSC Ilim Group for $24m.

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