ATLANTA (From news reports) - Graphic Packaging Holding plans to purchase 15.1M partnerships units in Graphic Packaging International Partners from International Paper for $250M. As a result, International Paper's ownership interest in the partnership will decrease to 18.3% from 21.6%.

The purchase will be funded with a draw on Graphic Packaging's domestic revolving credit facility.

International Paper has the contractual right to continue to reduce its minority ownership interest in the Partnership every 180 days with the next potential transaction date in July 2020.

GPK says the transaction significantly increased its addressable market and vertical integration opportunities, while accelerating its presence in fiber-based packaging solutions.