Suzano completes purchase of 15% of Lenzing AG

BY dprimeramano
September 3, 2024
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B&C Group shares were acquired for EUR 230 million

SÃO PAULO-Suzano, the world’s largest pulp producer, today announces the completion of the acquisition of a 15% stake in Lenzing AG, the world’s leading supplier of premium sustainable cellulose fibers for the textile and nonwovens industry listed on the Vienna Stock Exchange, from B&C Group. As announced in June this year, the transaction is valued at EUR 230 million (or EUR 39.70 per share). The agreement was subject to regulatory approval, which was granted without restrictions.

The long-term partnership between Suzano and B&C Group provides that Suzano has the right to hold two seats on Lenzing’s Management Board and has the option to acquire an additional 15% stake from B&C Group by the end of 2028. Following the sale of the 15% stake, B&C Group now holds 37.25% of Lenzing’s share capital.

Lenzing is a global leader in high-quality wood-based cellulose fibers (lyocell, modal and viscose) for the production of clothing, home textiles, hygiene products and textile composites.

Beto Abreu, CEO of Suzano, said:

“ Lenzing is a global leader in the development of sustainable solutions made from wood thanks to its unparalleled innovative strength and world-class technology. With this transaction, we want to expand our expertise in the textile market and find out how we can contribute to strengthening the company’s competitive position.”

The purchase of the stake in Lenzing is in line with two of Suzano’s key strategic objectives: “Expand boldly into new markets” and ” Play a leading role in sustainability”. The completion of the transaction has no material impact on Suzano’s total debt and/or leverage ratio.

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