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BRIEF-International Paper to combine unit with Graphic Packaging in $1.8 bln deal
October 24, 2017 / 11:18 AM / 25 days ago

BRIEF-International Paper to combine unit with Graphic Packaging in $1.8 bln deal

Oct 24 (Reuters) - International Paper Co:

* International paper and Graphic Packaging create leading consumer packaging platform

* International Paper Co - transaction valued at $1.8 billion​

* International Paper Co - ‍signed a definitive agreement to contribute its north america consumer packaging business to graphic packaging​

* International Paper Co - ‍ip plans to use $660 million in cash proceeds from a loan being assumed by graphic packaging to pay down existing debt​

* International Paper-‍will also receive 20.5 pct ownership interest valued at $1.14 billion in a unit of graphic packaging that will hold assets for combined business​

* International Paper Co - ‍transaction is expected to close in early 2018​ Source text for Eikon: Further company coverage:

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