Debevoise advises International Paper on sale of Brazil business
Debevoise & Plimpton is advising US company International Paper on the sale of its Brazilian corrugated packaging business, which includes three containerboard mills and four box plants, to Klabin, Brazil’s largest paper manufacturer.
Memphis, Tennessee-headquartered International Paper is a producer of renewable fibre-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa and Russia.
The deal is valued at 330 million reais ($61.6 million) and is expected to close in the second half of 2020, subject to certain closing conditions and regulatory approvals.
International Paper will continue to run its papers and forestry businesses in Brazil.
The Debevoise team is led by M&A partner Maurizio Levi-Minzi (pictured) and includes M&A associates Isabel Espinosa de los Reyes, Priscila Sun Min Park and Sergio Torres.
