IP Sells Brazilian Coated Papers to Stora

MEMPHIS, TN—International Paper has signed a definitive agreement to sell its Brazilian coated papers business to Stora Enso Oyj for approximately $415 million, subject to certain post-closing adjustments. The business includes a coated paper mill and lumber mill in Arapoti, Parana State, Brazil, as well as 50,000 hectares (approximately 124,000 acres) of forestland in Parana.