International Paper to consider stake sale in Russia's Ilim Group

International Paper recently announced that it was exploring options for Russian paper producer Ilim Group, including a possible sale of its 50% stake.

International Paper said it has no intention to seek the suspension of operations or initiate any liquidation or bankruptcy proceedings with respect to the group.

Ilim Group, a 50/50 joint venture between International Paper and Ilim Holding that was formed in 2007, said last year that it was considering an initial public offering (IPO).