International Paper Announces Exclusive Negotiations to Divest Five European Corrugated Box Plants to Satisfy Regulatory Commitments from the Acquisition of DS Smith Plc

Core Points - International Paper has entered exclusive negotiations with PALM Group for the sale of five corrugated box plants in Europe, which includes three plants in Normandy, France, one in Ovar, Portugal, and one in Bilbao, Spain [1][2] - The sale is part of the commitments made to the European Commission following International Paper's acquisition of DS Smith Plc, and the completion of the sale is subject to the Commission's approval [2][3] Company Overview - International Paper is a global leader in sustainable packaging solutions, headquartered in Memphis, Tennessee, with operations in over 30 countries and employing more than 65,000 team members [4] - The company reported net sales of $18.6 billion for 2024 and acquired DS Smith in 2025, enhancing its position in the North American and EMEA regions [4] PALM Group Overview - PALM is a family-owned company based in Aalen, Germany, recognized as a leading European producer of containerboard, graphic paper, and corrugated packaging [5] - In 2024, PALM generated a turnover of €2 billion with a workforce of 4,200 employees [5] Advisory Information - BofA Securities is serving as the exclusive financial advisor to International Paper, while Skadden, Arps, Slate, Meagher & Flom LLP is acting as the legal adviser [6]