UPDATE 1 — Private equity firms exploring deals for International Paper’s European packaging business, FT reports

(Adds shares and details in paragraphs 3 and 4) Oct 15 (Reuters) — Private equity firms Lone Star and Atlas Holdings are exploring bids for International Paper's European packaging business, valued at less than $6 billion, the Financial Times reported on Thursday, citing people familiar with the matter. Shares of the company were up 3%. International Paper had announcedin Januarythat it would split into two publicly traded companies by spinning off its European packaging business, aiming to streamline its operations and boost productivity across North America. The company did not immediately respond to Reuters request for comment. (Reporting by Shania S Thomas in Bengaluru; Editing by Joyjeet Das) ((shanias.thomas@thomsonreuters.com)