Deal worth over € 230 mn

Brazilians acquire stake in fiber group Lenzing

Lenzing AG employs 7778 people worldwide.

(Bild: Daniel Scharinger)

The B&C Group and the Brazilian pulp group Suzano agreed on Suzano's investment in the Upper Austrian pulp group in June. Accordingly, the Brazilians acquired 15 percent of the Lenzing shares.

This sale was approved by all responsible supervisory authorities on August 30. Suzano's stake in Lenzing is thus effective.

As a result, the B&C Group's stake in Lenzing has been reduced to 37.25 percent. Suzano now holds 15 percent of Lenzing. The B&C Group and Suzano have formed a long-term shareholder syndicate that jointly holds 52.25 percent of the voting rights.

Deal worth over 230 million euros
B&C exercises control in this syndicate with its 37.25 percent stake in Lenzing. The purchase price per share was EUR 39.70 and the total volume of the deal is EUR 230 million. Suzano will be represented by two members on Lenzing's Supervisory Board.

Location is secured
Suzano has the option to acquire a further 15 percent of Lenzing from B&C by the end of 2028. Nevertheless, B&C will remain the long-term core shareholder of Lenzing. It has also been agreed to secure the site in the long term in order to safeguard the headquarters and the plant in Lenzing as well as key R&D activities in Lenzing. And Lenzing will remain listed on the Vienna Stock Exchange.

The listed Suzano, headquartered in Brazil and celebrating its 100th anniversary this year, is the world's largest pulp producer with an annual turnover of over seven billion euros.