Friday 01. August 2008
International Paper Agrees to Sell Mineral Rights to Chesapeake Energy Corporation for Approximately $263 Million
International Paper (NYSE:IP) has agreed to sell approximately 13,000 net acres of subsurface mineral rights located in the Haynesville Shale natural gas formation in northwest Louisiana to Chesapeake Energy Corporation (NYSE:CHK) for approximately $263 million, subject to various adjustments at closing. The transaction is expected to close in late August.