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International Paper to sell Asian corrugated packaging business for $150m

2016-03-14 22:19:50| Paper - Topix.net

International Paper has agreed to sell its corrugated packaging business in China and Southeast Asia to Xiamen Bridge Hexing Equity Investment Partnership Enterprise. Under the terms of the transaction, IP will receive a total of approximately $150m, subject to post-closing adjustments and other payments, including the buyer's assumption of the liability for loans of approximately $50m to be paid to International Paper within six months of closing of the sale.

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