Graphic Packaging to acquire International Paper's US consumer packaging business in mega deal

摘要

US packaging group Graphic Packaging Holding Company will acquire the North American consumer packaging business from International Paper (IP) for $1.8bn. Graphic Packaging said that the merger of the IP division with its own mills would give rise to an integrated packaging company with potential sales of $6bn. IP would retain 20.5% worth $1.14bn in the jointly-owned company, reports added. However, Graphic Packaging with a majority stake of 79.5% will be the sole operator of the company. The partnership will assume IP's debts amounting to $660m.