International Paper completes sale of 163,000 acres of real estate properties

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International Paper completes sale of 163,000 acres of real estate properties

Friday, September 24, 2010

Press release from the issuing company

Memphis, Tenn. - International Paper announced today that it has closed the sale of 163,000 acres under contract with Figure 8 Partners, LP, an affiliate of Rock Creek Capital (the "Partnership"). The total consideration of $199 million includes $160 million in cash and $39 million, plus interest, to be received no later than three years from closing. In addition, IP has received a 20% profits interest in the Partnership. The properties are located in the southeastern part of the United States.

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