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International Paper To Sell Brazilian Corrugated Packaging Business To Klabin

International Paper (IP) said it agreed to sell its Brazilian corrugated packaging business to Klabin S.A. for R$330 million, with R$280 million to be paid at closing and R$50 million one year thereafter. The business includes three containerboard mills and four box plants.

The transaction is expected to close in the second half of 2020. The company will continue to run its Papers and Forestry businesses in Brazil.

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