New York – December 21, 2006 – LAWFUEL – Legal News, Legal Business – Debevoise & Plimpton LLP is advising International Paper in its agreement to sell five wood products mills to Georgia-Pacific for approximately $237 million, subject to various adjustments at closing. The agreement is part of International Paper’s previously announced transformation plan to focus on uncoated papers and packaging, as well as xpedx, its North American distribution business. Proceeds from divestitures announced to date, including the agreement announced today, total approximately $11 billion.
International Paper, headquartered in the United States, has been a leader in the forest products industry for more than 100 years. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, Washington D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.
The Debevoise team is led by partner Jeffrey J. Rosen and includes partners Sarah A.W. Fitts and Peter A. Furci, counsel Judith L. Church and Andrew E. Schultz and associates Suzie C. Alway, Christopher T. Hines, Nicole A. Perez, Juan L. Ramirez, Adam S. Reuben, Kevin A. Rinker, Molly F. Stockley, and Dmitriy A. Tartakovskiy.