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International Paper sells more shares in Graphic Packaging International

13 Aug 2020 − 

The ownership structure of Graphic Packaging International is changing. International Paper will sell part of its interest, retaining only a 14.5 per cent stake.

International Paper (IP) will further reduce its partnership interest in US company Graphic Packaging International Partners (GPI). The Graphic Packaging Holding, the majority owner of the company, announced that it would purchase approximately 17.4 million partnership units from IP for $250m. As a result, Graphic Packaging's ownership interest in GPI will increase from approximately 81.1 per cent to 85.5 per cent.

Back in 2017, Graphic Packaging Holding had acquired International Paper's US consumer packaging business in a mega deal. IP had retained 20.5 per cent in the jointly-owned company, while Graphic Packaging, with a majority stake of 79.5 per cent, became the sole operator of the company. In February this year, IP already sold a first part of its interest to Graphic Packaging, which is now followed by a second part.

GPI is a manufacturer of consumer packaging, specialising in food and beverage packaging. The company also offers different paperboard grades and machinery systems such as carton formers. It operates 70 facilities worldwide and employs 17,000 people.

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