Graphic Packaging Holding Company announced today that International Paper has notified the Company of its intent to continue the monetization process of its ownership interest in Graphic Packaging International Partners, LLC (the "Partnership").
Per the agreement, the Partnership will purchase approximately 17.4 million partnership units from International Paper for $250 million. As a result, Graphic Packaging's ownership interest in the Partnership will increase from approximately 81.1% to 85.5%. The purchase will be funded with cash on hand and a draw on the domestic revolving credit facility.
Graphic Packaging Holding Company, headquartered in Atlanta, Georgia, is committed to providing consumer packaging that makes a world of difference.