International Paper Announces Strategic Entry into India, Agrees to Purchase Shares of Andhra Pradesh Paper Mills
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International%20Paper<%2Fa>%20(NYSE%3A%20IP)%20has%20entered%20into%20agreements%20with%20Mr.%20L.N.%20Bangur,%20and%20related%20family%20members%20and%20affiliates%20to%20purchase%20approximately%2053.5%20percent%20of%20the%20outstanding%20shares%20of%20Andhra%20Pradesh%20Paper%20Mills%20Limited<%2Fa>%20(NSE%3A%20APPAPER%20|%20BSE%3A%20502330)%20for%20approximately%20US$257%20million%20in%20cash.%0D%0A%0D%0Ahttps%3A%2F%2Fwww.bookbusinessmag.com%2Farticle%2Finternational-paper-enter-india-purchase-shares-andhra-pradesh%2F" target="_blank" class="email" data-post-id="5746" type="icon_link">
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Once completed, the transaction will position International Paper as the first global paper and packaging company with a significant position in India's fast growing economy.
"APPM is an established and highly respected company in India, and is an excellent platform for International Paper to grow with the Indian paper and packaging markets," said John Faraci, chairman and chief executive officer of International Paper. "Both APPM and the India paper and packaging industry are growing at substantial rates, and we believe that IP's global operations and technical expertise can accelerate that growth and create value for customers as well as IP and APPM shareholders."
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