L.N. Bangur

March 29, 2011International Paper Announces Strategic Entry into India, Agrees to Purchase Shares of Andhra Pradesh Paper Mills

(Press Release) MEMPHIS, Tenn., March 29, 2011, PRNewswire—International Paper (NYSE: IP) has entered into agreements with Mr. L.N. Bangur, and related family members and affiliates to purchase approximately 53.5 percent of the outstanding shares of Andhra Pradesh Paper Mills Limited (NSE: APPAPER | BSE: 502330) for approximately US$257 million in cash.

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