Following the transaction, first announced in October 2012, International Paper will hold a 75% stake in the new operation, in partnership with Brazil's Grupo Orsa.
"International Paper has been in Brazil for over 50 years and we are excited about this partnership as a platform to enter the corrugated packaging business in this strategic region," says John Faraci, IP chairman and CEO.
"This investment fits our strategy to grow our packaging business globally and allocate capital to opportunities that deliver returns well above our cost of capital."
At the time of the deal's closure, the value of IP's investment was said to be approximately $470 million.
International Paper is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa.
