Buyer of IP's 50% shareholding interest in Ilim is Ilim Global Timber Rus, owned by Zakhar Smushkin and Boris Zingarevich; now that transaction has closed, control over former JV assets was transferred to Russian shareholders.

Sample article from our Pulp & Paper Industry

September 19, 2023 (press release) –

The transaction obtained all required approvals and is officially closed.

The buyer of International Paper (IP) 50% shareholding interest in Ilim SA is Ilim Global Timber Rus LLC, owned by Zakhar Smushkin and Boris Zingarevich. As a result of the transaction, control over former joint venture assets was transferred to the Russian shareholders.

About Ilim Group: Ilim Group is the leader of the Russian pulp and paper industry and one of the industry leaders globally. The Company is one of the world’s top 7 producers of bleached softwood pulp. In 2022, the annual finished products output totaled 3.63 million tons. By 2024, Ilim intends to increase its output up to 4.2-4.3 million tons. In Russia, the company accounts for 77% of all market pulp, 16% of packaging materials, and 25% of white papers produced. About half of Ilim products are exported to China, where the Company is the leading player in the wood-free corrugated materials segment. In 2022, the Company’s supply volume amounted to record-breaking 1.72 million tons. Company’s priority by 2025 is to increase supplies to China by 40% to reach 2.4 million tons per year. Apart from its key Russian and Chinese markets, Ilim also prioritizes the markets of the Middle East, India, Africa, and Latin America.

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