IP, Ilim Pulp Deal OK'd by Russian Antimonopoly Service
June 5, 2007 - International Paper and Ilim Pulp today announced they have received Russian Federal Antimonopoly Service (FAS) approval, permitting International Paper to acquire an ownership interest in Ilim Holding SA.
The approval is an important step in the process of working toward an agreement to develop a 50:50 joint venture. Negotiations and due diligence are still ongoing and should conclude in the second half of the year, IP said.
SOURCE: International Paper
See related story:IP, Ilim Pulp apply to Russian authorities for joint venture (3/26)