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International Paper sells forestlands

For roughly $6.1 billion, International Paper is selling approximately 5.1 million acres of forestlands.

For roughly $6.1 billion, International Paper is selling approximately 5.1 million acres of forestlands.

The company has referred to the sale as being in line with its intent to focus primarily on uncoated paper and industrial consumer packaging.

An investor group led by Resource Management Service bought up the bulk of the lands, while a separate investor group headed by TimberStar purchased the remaining 900,000 acres.

The transaction marks International Paper’s divestiture of 85% of its U.S. forestland holdings.