---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-014425"
form_type: "8-K"
ticker: "IP"
cik: "0000051434"
company_name: "INTERNATIONAL PAPER CO /NEW/"
filed_at: "2023-01-25T23:59:59+00:00"
generated_at: "2026-06-20T09:54:47.467509+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# International Paper to sell 50% stake in Ilim JV for $484M; subject to Russian approvals

## Summary
- Sale of 50% interest in Ilim SA for $484M cash to JV partners.
- Transaction implies ~$3.5B total enterprise value and ~3.1x EBITDA multiple on 2022 unaudited EBITDA of $1.11B.
- Also received indication of interest to buy 2.39% stake in JSC Ilim Group for $24M.
- Sale subject to regulatory approvals in Russia; further updates pending.

## SEC filing metadata
- accession: 0001193125-23-014425
- form_type: 8-K
- ticker: IP
- cik: 0000051434
- company_name: INTERNATIONAL PAPER CO /NEW/
- filed_at: 2023-01-25T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/51434/000119312523014425/0001193125-23-014425-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/51434/000119312523014425/d442355d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-014425
- JSON: https://secwatch.observer/filing/0001193125-23-014425.json
- Plain text: https://secwatch.observer/filing/0001193125-23-014425.txt

## Key facts
- Material Agreements
  INTERNATIONAL PAPER CO /NEW/ entered into a asset purchase with Pulp Holding Luxembourg S.A.R.L and ILIM Holding Luxembourg S.A.R.L valued at $484 million (effective 2022-12-15).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Pulp Holding Luxembourg S.A.R.L and ILIM Holding Luxembourg S.A.R.L
  - Value: $484 million
  - Effective: 2022-12-15
  source text: On December 15, 2022, the Company, acting through International Paper Switzerland GmbH (the “ IP Shareholder ”), delivered an offer letter (the “ Offer Letter ”) to Pulp Holding Luxembourg S.A.R.L and ILIM Holding Luxembourg S.A.R.L (the “ ILIM Shareholders ”), pursuant to the ILIM Shareholders’ right of first refusal (the “ ROFR ”) under the shareholders’ agreement in respect of ILIM SA (“ ILIM ”) entered into among the Company, the IP Shareholder, the ILIM Shareholders, ILIM, Mr. Zakhar Smushkin, Mr. Mikhail Zingarevich, Mr. Boris Zingarevich and Mr. Leonid Eruhimovich on October 4, 2007 (as subsequently amended and restated) (the “ Shareholders Agreement ”), whereby the IP Shareholder offered its 50% shareholding in ILIM to the ILIM Shareholders. On January 19, 2023 and January 23, 2023, the ILIM Shareholders delivered an initial acceptance notice and an additional acceptance notice (the “ Acceptance Notice ”), respectively, whereby the ILIM Shareholders exercised the ROFR pursuant
  evidence_url: https://www.sec.gov/Archives/edgar/data/51434/000119312523014425/0001193125-23-014425-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.