International Paper said it entered into a Securities Purchase Agreement on August 20, 2025 to sell its entire Global Cellulose Fibers (GCF) business for $1.5 billion, subject to closing adjustments, and the transaction includes the issuance of preferred stock with an aggregate initial liquidation preference of $190 million.

1. 01

   International Paper said it entered into a Securities Purchase Agreement on August 20, 2025 to sell its entire Global Cellulose Fibers (GCF) business for $1.5 billion, subject to closing adjustments, and the transaction includes the issuance of preferred stock with an aggregate initial liquidation preference of $190 million.

2. 02

   The company said it expects to incur a non-cash impairment charge of approximately $700 million to $900 million as a result of comparing the sale price to the estimate of the current net asset value of the GCF business, and it expects the charge will be recorded in the quarter ended September 30, 2025. The company said this amount is a preliminary estimate and could differ.

3. 03

   International Paper said the consummation of the transaction is subject to customary closing conditions, including competition law approvals, and either party may terminate the Sale Agreement if the transaction has not closed by February 20, 2026. The company said if the closing has not occurred because competition approvals have not been received and all other conditions to closing have been satisfied or waived, the end date will be extended to May 20, 2026. It said that upon termination under specified circumstances, the buyer will be required to pay the company a termination fee of $85 million.

4. 04

   International Paper said it will invest $250 million to convert the 16 machine at the Riverdale mill to produce containerboard and will permanently close the Savannah and Riceboro mills and related facilities. The company said the changes will impact approximately 1,100 hourly and salaried positions, and the combined changes will result in a net reduction of the company's annual containerboard capacity of approximately one million tons.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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