Xerox (NYSE:XRX) is getting out of the European paper biz.
On Wednesday, Xerox announced that it has received a binding offer from French paper company Antalis to buy Xerox's European paper and print media products business. This follows Xerox's March announcement that it had agreed to sell its U.S. and Canadian paper operations to Canada's Domtar (NYSE:UFS).
As with the previous sale, Xerox explained that this week's deal is aimed at helping the company spin off unwanted operations "to focus on growing business services and developing innovative document technologies." Also as in the previous announcement, Xerox noted that its business' buyer will carry on selling Xerox-branded paper in the affected territories.
Xerox expects to close the sale of its European paper business in early Q4.
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