October 25, 2018 / 10:06 PM / 20 days ago

Internt'l Paper considering sale of Brazil packaging unit -report

SAO PAULO, Oct 25 (Reuters) - International Paper Co is considering the sale of its cardboard packaging unit in Brazil, newspaper Valor Economico reported on Wednesday, citing sources with knowledge of the matter.

International Paper said in a statement that it is “exploring strategic options for the packaging unit, including a potential sale,” according to Valor.

International Paper, which reported its third-quarter results on Thursday, booked a $122 million loss in its financial statement related to assets in the country, Valor said. The company did not immediately reply to a request for comment from Reuters.

International Paper also owns a paper unit in Brazil. (Reporting by Tatiana Bautzer; editing by Jonathan Oatis)

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