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Acquisition of shares held by B&C Group for €230 million
SAO PAULO–(BUSINESS WIRE)–Suzano, the world’s largest pulp producer, announced today that it has completed the acquisition of a 15% stake in Lenzing AG, a Vienna-listed company and global leader in sustainable, high-quality cellulose fibers for the textile and nonwoven industries from the B&C Group. As reported in June this year, the transaction is valued at €230 million (equivalent to €39.70 per share). The transaction is subject to regulatory approval, which is not subject to any restrictions.
The long-term partnership between Suzano and the B&C Group provides that Suzano is entitled to two seats on the Lenzing Board of Directors and has the option to acquire an additional 15% of the B&C Group shares by the end of 2028.
The original language version of the statement is its official and authorized version. This translation is only a means of assistance and must be compared with the original language text, which is the only version of the text that has legal effect.
Contact Details
Hawthorn Consultants
Jamie Plotneck
(email protected)
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