Debevoise & Plimpton LLP is advising International Paper (NYSE: IP; LSE: IPC) in the sale of its Global Cellulose Fiber business, which creates safe, high-quality pulp for personal care products, to American Industrial Partners for $1.5 billion, including the issuance of preferred stock with an aggregate initial liquidation preference of $190 million. For more information, please see the company’s press release.

The Debevoise team is led by M&A partners William Regner, Katherine Durnan Taylor and Erik Andrén and includes associates Grace Huang, Eleanor Neilson and Erick Wong, finance partner Jeffrey Ross, counsel Lachlan Conroy and Jonathon Yeung and associate Dara Liss, employee benefits and executive compensation partner Frank Mitchell, counsel Wendy Widman and associate Alexandra Schoellkopf, IP and technology transactions counsel Tigist Kassahun and associate Erin McLoughlin, tax partner Lena Smith and associate Elliott Tuchman, capital markets partner Eric Juergens and associate Amy Pereira and environmental counsel Stuart Hammer.