International Paper Company Board of Directors Declares Spin-Off Distribution of Sylvamo Corporation Common Stock
International Paper Corporation announced today that its board of directors declared a compass of international papers en route to the split of its global papers business, following the announcement of removing the global paper business from its corporate headquarters. rata pro s, pro pro at a n te o i r z j ks he frro. To be made effective at 12:01 p.m., distribution of approximately 80.1% of the outstanding shares of Sylvamo Corporation (NYSE: SLVM) will be announced today. International Paper's shareholders of record as of 5 o'clock on October 1, 2021 to International paper'' at the time of five p.m. The distribution is on September 15, 2021, the previously-announced record date for the distribution. The International Paper shareholder receives one (1) share of Sylvamo common stock for every 11 (11) shares held on the record
Non-stridal shares of Sylvamo common stock will not be shared and sold in the open market. Instead, fractional share of Slvemi commons will be aggregated and then sold on the market
On September 14, 2021, the "regular way" trading under the symbol "SLVM" will begin. The CUSIP number for the Sylvamo common stock will be 871332 102 when regular way
International Paper has been advised by the NYSE that from September 14, 2021 through September 30, 2022, there will be two markets for International paper common stock: a "regular way" market and an "ex-distribu
Shareholders who hold common stock of International Paper on the record date will receive a book-entry account statement reflecting their ownership of Sylvamo or their brokerage account will be credited with the shares of the Sylam
International Paper shareholders should consult with their tax advisors to determine the federal, state, local or foreign tax consequences of the spin-off.
The registration statement on Form 10 relating to the Sylvamo common stock has been declared effective by the Securities and Exchange Commission (SEC), and the sale of such a registration and cancellation shall be accepted as if the corporation
About International Paper
International Paper (NYSE: IP) is a leading global producer of renewable fiber-based packaging, pulp and paper products with manufacturing operations in North America, Latin America and Europe, Europe and North Africa. We produce corrugated packaging products that protect and promote goods, and enable global commerce; pulp for diapers, tissue and other personal hygiene products and encourage health and wellness; and papers which facilitate education and communication. We have a headquarters in Memphis, Tenn., employ approximately 48 000 colleagues, and serve over 25,000 customers in 150 countries. The net sales for 2020 were 21 billion dollars. For more information about International Paper, our products and global citizenship efforts, please visit internationalpaper.com.
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