IP Confirms Sales Talks for EMEA Packaging
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International Paper is exploring the sale of its packaging business in Europe, the Middle East, and Africa (EMEA Packaging) as an alternative to the planned spin-off and public listing. The company confirms that it is in talks with potential bidders, but no decision has been made yet. Both options are being pursued in parallel.
In a statement dated October 15, the company confirmed “unsolicited expressions of interest” and discussions with potential bidders. According to IP, the statement was prompted by recent developments in the stock price and related press speculation.
The sale discussions are in an early stage. Whether a transaction will be agreed upon and completed remains to be seen, the company stated.
At the same time, IP is moving forward with the previously announced spin-off of EMEA Packaging, which will be listed on the London Stock Exchange and additionally listed via American Depositary Receipts (ADRs) in New York. IP has not provided any binding details regarding the final timeline. In connection with the planned spin-off, the company is hosting a “DS Smith – Capital Markets Day” on November 3.
Upon completion of the spin-off, the independent company is to operate under the name DS Smith plc.
