International Paper enters exclusive talks to divest 5 European plants to PALM, fulfilling DS Smith remedy

INTERNATIONAL PAPER CO /NEW/

Plants in France (3, in Normandy), Portugal (Ovar), and Spain (Bilbao).
Definitive SPA expected after French works council consultation; closing by Q2 2025.
Divestment required by European Commission for approval of DS Smith Plc acquisition.
Transaction subject to EC approval of PALM as purchaser; IP will then satisfy all EU obligations.

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