According to the deal, the Brazilians took over 15 percent of Lenzing shares. All relevant supervisory authorities approved this sale on August 30. This means that Suzano’s stake in Lenzing is now effective, the B&C Group announced on Saturday. 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, with the B&C Group and Suzano having formed a long-term shareholder syndicate that together holds 52.25 percent of the voting rights.
B&C exercises control in this syndicate with its 37.25 percent share in Lenzing. The purchase price per share was EUR 39.70, the total volume of the deal is EUR 230 million. Suzano will be represented on the Lenzing Supervisory Board with two members.
B&C to remain a long-term core shareholder
Suzano has the option to acquire a further 15 percent of Lenzing from B&C by the end of 2028. Regardless of this, B&C will remain a long-term core shareholder in Lenzing. A long-term site security agreement has also been agreed to safeguard the headquarters and plant in Lenzing as well as key R&D activities in Lenzing. And Lenzing will remain listed on the Vienna Stock Exchange.
The listed company Suzano, headquartered in Brazil, which is celebrating its 100th anniversary this year, is the world’s largest pulp producer with annual sales of over 7 billion euros.