International Paper Is Getting Rid of Its Russian Assets

Russia’s biggest foreign investor in the timber industry is getting rid of its stake. US-based International Paper is selling its stake for less than it bought it 15 years ago. This is noted in a company’s statement.

International Paper will sell 50% of Ilim Group to Russian partners for $484 million. More than 15 years ago, the American company paid $650 million for its Russian stake.