SUZ - Suzano Buys 15% Stake in Lenzing to Boost Market Presence | Benzinga
Suzano S.A. (NYSE: SUZ) announced that it acquired a 15% stake in Lenzing (OTC: LNZNF) from its current majority stakeholder, B&C Group. This move will help Suzano gain proximity to new markets.
The deal was set at 230 million euros ($249 million). Suzano and B&C will form a long-term syndicate to hold a 52.25% stake in the Vienna-based cellulosic fibers supplier company. B&C will hold the majority of the stake (37.25%) and remain the controlling member of the new syndicate.
Under the deal, Suzano can acquire a further 15% stake in Lenzing from B&C until 2028.
Lenzing is a global supplier of premium cellulosic fibers for the textile and non-woven industry. This deal will further strengthen Lenzing's position as a global market leader for sustainable cellulosic fibers. SUZ aims to boost Lenzing's position with its established technology, product range and technical knowledge.
SUZ will gain from Lenzing's deep-rooted understanding of pulp production and ...