Suzano S.A. (NYSE: SUZ) announced that it closed the previously mentioned acquisition of a 15% stake in Lenzing from its current majority stakeholder, B&C Group (NASDAQ: BGC). This move will help Suzano expand in new markets.
Details on Suzano's Deal With B&C
In June 2024, Suzano and B&C announced that they would form a long-term syndicate to together hold a 52.25% stake in the Vienna-based cellulosic fibers supplier company, Lenzing. Per their deal, Suzano will acquire a 15% stake in Lenzing and B&C will hold the majority of the stake (37.25%) and remain the controlling member of the new syndicate.
Along with the 15% stake, Suzano received the right to two seats on Lenzing's board of directors.
As part of the long-term partnership, Suzano has the choice to acquire another 15% stake in Lenzing from B&C until 2028.
Transaction to Boost Lenzing & SUZ's Position
Lenzing is a global supplier of premium cellulosic fibers for the textile and ...
