International Paper (IP) agrees to sell its Temple-Inland Building Product division to...

|About: International Paper Co. (IP)|By:, SA News Editor

International Paper (IP) agrees to sell its Temple-Inland Building Product division to Georgia-Pacific for $750M in a deal expected to close in the first quarter of 2013. Assets turned over will include 16 manufacturing facilities across eight states. The company plans to use the funds kicked up from the sale to reduce debt. IP +1.7% premarket.