International Paper to sell Indian subsidiary APPM

31 May 2019 − 

International Paper is almost withdrawing from the Indian market. The company plans to sell to its majority stake in the Indian subsidiary International Paper APPM Limited.

International Paper (IP) plans to part almost completely with its Indian business activities. The company announced it had signed an agreement with West Coast Paper Mills (WCPM) for the sale of its controlling interest in the Indian subsidiary International Paper APPM Limited (IP APPM). However, IP will continue to have a holding in the company as a passive investor for the time being, a press release says. The transaction is expected to be closed by the end of the year.

IP currently owns 75% or 30 million of the shares in IP APPM. The Indian subsidiary produces printing and writing paper at two locations.

Find the full article in EUWID Pulp and Paper issue no 23/2019, which will be available to our e-paper and print subscribers as of 5 June.

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