SÃO PAULO — August 30, 2024 — Pulp producer Suzano today announced the completion of its acquisition of a 15 percent stake in Lenzing AG, the Vienna-listed leading global supplier of sustainable premium cellulosic fibers for the textile and nonwovens industry, from B&C Group. As announced in June this year, the transaction value is 230 million euros (or 39.70 euros per share). The agreement was subject to regulatory approval, which was granted without restrictions.
The long-term partnership between Suzano and B&C Group establishes that Suzano has the right to hold two seats on Lenzing’s Board and the option to acquire an additional 15 percent stake from B&C Group until the end of 2028. Following the sale of the 15 percent stake, B&C Group now holds 37.25 percent of Lenzing’s share capital.
Lenzing is a global supplier of premium wood-based cellulosic fibers (lyocell, modal, and viscose) for the production of clothing, home textiles, hygiene products, and non-woven materials.
Beto Abreu, CEO of Suzano, said: “Lenzing’s unparalleled track record of innovation and best-in-class technology make it a global leader in developing sustainable solutions from wood. With this transaction, we intend to build our expertise in the textile market and identify how we can help strengthen the company’s competitive position.”
The purchase of the stake in Lenzing is aligned with two of Suzano’s key strategic goals — “Expand Boldly into New Markets” and “Play a Leading Role in Sustainability”. Its completion does not have a material impact on Suzano’s overall financial leverage and/or indebtedness.
Posted: September 2, 2024
Source: Suzano
