International Paper today announced the completion of the
divestiture of five European plants to PALM Group to satisfy
regulatory commitments from its acquisition of DS Smith Plc. The
sale includes (i) three plants in Normandy, France (namely, one
box plant in Saint-Amand, one box plant in Mortagne, and one
sheet plant in Cabourg); (ii) one box plant in Ovar, Portugal;
and (iii) one box plant in Bilbao, Spain.
The sale of these facilities was agreed to with the European
Commission as a remedy for IP's acquisition of DS Smith Plc, as
published on the Commission's website on January 24, 2025.
As a result, IP has satisfied all of its obligations towards the
European Commission in connection with the acquisition of DS
Smith.
International Paper (NYSE: IP; LSE: IPC) is the global leader
in sustainable packaging solutions. With company headquarters in
Memphis, Tennessee, USA, and EMEA (Europe, Middle East and
Africa) headquarters in London, UK, IP employs more than 65,000
team members and serves customers around the world with
operations in more than 30 countries.
Source: internationalpaper.com