01—Abstract
Summary
Summary of the 8-K filed July 1, 2025. Cited figures are marked; the original filing is the authoritative source.
International Paper (NYSE: IP; LSE: IPC) announced on July 1, 2025 that it has completed the divestiture of five European plants to PALM Group.
The sale covers three plants in Normandy, France (box plants in Saint-Amand and Mortagne, and a sheet plant in Cabourg), one box plant in Ovar, Portugal, and one box plant in Bilbao, Spain. The divestiture was a remedy agreed with the European Commission in connection with International Paper's acquisition of DS Smith Plc, as published by the Commission on January 24, 2025. The company states that with completion of this sale it has satisfied all of its obligations toward the European Commission related to the DS Smith acquisition.
The filing discloses this under Item 8.01 (Other Events), with the details contained in an attached press release (Exhibit 99.1). The filing does not state financial terms of the transaction, such as sale price or financial impact. PALM, the buyer, is described as a family-owned German company with 5 paper mills and 33 corrugated box plants in Europe.
02—Key points
Key Highlights
- Completed divestiture of five European plants to PALM Group, performed by three indirectly owned subsidiaries
- Plants sold: box plants in Saint-Amand, Mortagne, Ovar (Portugal) and Bilbao (Spain), plus a sheet plant in Cabourg (France)
- Divestiture satisfies regulatory commitments made to the European Commission in connection with the DS Smith Plc acquisition
- Company states all of its obligations to the European Commission related to the DS Smith acquisition are now satisfied
- Remedy was published by the European Commission on January 24, 2025
- Filing does not disclose purchase price or financial impact of the sale
- Company reported 2024 net sales of $18.6 billion and more than 65,000 team members
03—Questions
Frequently Asked Questions
What did International Paper announce on July 1, 2025?
International Paper announced it completed the divestiture of five European plants to PALM Group, a sale made to satisfy regulatory commitments from its acquisition of DS Smith Plc.
Which plants were sold to PALM?
The sale includes three plants in Normandy, France (box plants in Saint-Amand and Mortagne, and a sheet plant in Cabourg), a box plant in Ovar, Portugal, and a box plant in Bilbao, Spain.
Why was the divestiture required?
The sale was agreed with the European Commission as a remedy for International Paper's acquisition of DS Smith Plc, as published by the Commission on January 24, 2025.
Does this sale complete International Paper's obligations related to DS Smith?
According to the press release, International Paper has satisfied all of its obligations towards the European Commission in connection with the acquisition of DS Smith Plc.
Who is the buyer and what does PALM do?
PALM Group is a family-owned company headquartered in Aalen, Germany. The filing describes it as one of the leading European producers of containerboard, graphic paper and corrugated packaging, operating 5 paper mills and 33 corrugated box plants in Europe, with 4,200 employees and a 2024 turnover of €2 billion.
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