International Paper To Spin Off EMEA Packaging Business; Stock Up In Pre-market

Core Viewpoint - International Paper Company plans to separate into two independent, publicly traded companies, focusing on North America and EMEA Packaging, leading to a more tailored investment strategy for each entity [1][2]. Group 1: Company Structure and Leadership - The North America business will include legacy International Paper and DS Smith assets, while the EMEA Packaging unit will combine packaging operations in Europe, the Middle East, and Africa [2]. - Andy Silvernail will remain as chairman and CEO of International Paper, with Lance Loeffler as CFO and Tom Hamic as president of Packaging Solutions North America [3]. - Tim Nicholls is expected to lead the EMEA Packaging business as CEO, with David Robbie serving as chairman [3]. Group 2: Spin-off Details - The spin-off is anticipated to be completed within 12 to 15 months, allowing each company to pursue focused management structures and capital allocation approaches [2]. - The transaction will be structured as a spin-off of the combined EMEA Packaging business to shareholders, with International Paper retaining a significant ownership stake [4]. - The new EMEA Packaging company is expected to be listed on both the London Stock Exchange and the New York Stock Exchange [4].