International Paper completed the divestment of an 80% stake in printing papers business.

International Paper, a producer and distributor of paper products, completed the divestment of an 80% stake in printing papers business. Financial terms were not disclosed. "We remain committed to producing sustainable products that people depend on every day and accelerating value creation for International Paper and our shareowners. This transaction represents a logical next step as we continue to build a better IP. International Paper will be a more-focused corrugated packaging and absorbent cellulose fibers company serving attractive segments, well-positioned to increase earnings and cash generation. I am confident that our plans will create value for our shareowners, employees, customers and other stakeholders," Mark Sutton, International Paper Chairman and Chief Executive Officer.