IP to Sell Turkish Corrugated Packaging Business

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International Paper (IP) has entered into an agreement to sell its 90% ownership interest in Olmuksan International Paper to Mondi Group, for approximately €66 million.

The transaction—expected to close in the first half of 2021—is subject to certain conditions & regulatory approvals. The Olmuksan business includes corrugated packaging facilities in Turkey with an approximate annual revenue of €150 million.

 

[Lorenburton]

IP has come to an agreement to divest its 90% shares in Olmuksan IP to mondi group for millions of dollars, as per agreement the company will sell it's corrugated packaging facilities in Turkey.