Paper and packaging company International Paper Co will buy a majority stake in India's Andhra Pradesh Paper Mills for about $257 million in cash, marking its first foray into the emerging country. The U.S.-based company will buy 53.5 percent of outstanding shares in Andhra Pradesh Paper Mills, a part of the L.N. Bangur group. International Paper also raised its quarterly dividend to $0.2625 per share from $0.1875 per share.
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