BUZZ-International Paper rises after spinoff announcement

Reuters

01/29

** Packaging company International Paper's IP.N shares rise nearly 3% to $42.73 premarket

** Co announces plan to split into two publicly traded companies by spinning off European packaging business

** Separation expected to be completed in 12-15 months

** Co's quarterly sales of $6 billion beat estimates - data compiled by LSEG

** In 2025, IP was down about 26%

(Reporting by Angela Christy M in Bengaluru)

((AngelaChristy.M@thomsonreuters.com;))

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