New York- and São Paulo-listed Suzano S.A. acquires a 15 % stake in Lenzing AG from B&C Group
VIENNA–(BUSINESS WIRE)–B&C Group (B&C) and Suzano S.A. (Suzano) right now announce that Suzano has entered right into a long-term partnership with B&C with respect to its majority stake in Lenzing AG (Lenzing or the corporate), the Vienna-listed main international provider of cellulosic fibres for the textile and non-wovens trade.
Below the phrases of the settlement, Suzano will purchase a 15 % stake in Lenzing from B&C and the 2 shareholders will type a long-term syndicate which can maintain the bulk stake (52.25 %) within the firm. Topic to the closing of the transaction, B&C will maintain a 37.25 % stake in Lenzing and hold the position as controlling member of the brand new syndicate, with Suzano holding the minority stake of 15 %. The value per share shall be EUR 39.70, with a complete acquisition buy worth of EUR 230 million to be absolutely paid at closing.
As a part of the long-term partnership, Suzano has the choice to accumulate an extra 15 % stake within the firm from B&C till the tip of 2028. The settlement additionally stipulates that B&C will stay a dedicated long-term shareholder within the firm.
With an annual internet income of greater than EUR seven billion in 2023, Brazil-headquartered Suzano is the world’s largest market pulp producer. The corporate, which is celebrating its centennial yr, has a long-standing monitor file of each operational excellence and dedication to sustainability in any respect phases of its processes, experience that can complement Lenzing’s present enterprise mannequin. Suzano is not any direct competitor of Lenzing and has intensive expertise in pulp, a uncooked materials with vital significance for Lenzing.
Transferring ahead, B&C and Suzano plan to assist Lenzing’s additional growth by specializing in driving income development, bettering profitability and increasing the corporate’s worldwide competitiveness.
Walter Schalka, CEO of Suzano, mentioned: Lenzing is already a number one international provider of premium cellulosic fibres for the textile and non-wovens trade and we acknowledge alternatives exist for additional development with its established know-how, product vary and technical information. Our deep-rooted understanding of pulp manufacturing and price excellence makes Suzano, alongside B&C, a great associate for Lenzing because it seeks strengthening its aggressive place and international presence. For us, this represents a continuation of our technique centered on investments which enlarge our addressable market in scalable and aggressive enterprise fashions and transfer us nearer to the end-consumer.
Wolfgang Hofer, Chairman of B&C Group: We see this partnership as a win-win-win scenario for every get together concerned. With Suzano, B&C will add a financially robust key shareholder for Lenzing with intensive expertise and powerful fame on the worldwide monetary markets. Suzano because the main international pulp producer good points proximity to new markets due to this transaction. For Lenzing, this transaction means a dedication of each companions to strengthen Lenzing’s place as a world market chief for sustainable cellulosic fibres.
Consistent with the muse goal of B&C Personal Basis, the brand new companions have agreed on a long-term dedication to the prevailing Lenzing web site which can guarantee the corporate’s headquarters, manufacturing amenities and key R&D actions stay situated in Austria. The partnership additionally ensures the continued itemizing of Lenzing shares on the Vienna inventory alternate.
The transaction is topic to approval by the related regulatory authorities.
About Suzano S.A.
Suzano is the world’s largest producer of market pulp. Our responsibly grown uncooked supplies are utilized in merchandise reaching over two billion folks in additional than 100 nations, together with tissue and bathroom paper, books, printing and writing paper, diapers and interval merchandise, packaging, textiles, and a variety of progressive purposes that may substitute merchandise constructed from fossil fuels.
Our pulp is made utilizing biomass produced from farmed eucalyptus timber, providing a biodegradable, renewable and recyclable uncooked materials for client and industrial use. We plant 1.2 million timber a day on our farms and solely harvest what we plant. We handle round 26,000 km2 of land and round 40% of that is protected for everlasting conservation, with a zero-deforestation coverage throughout all of our operations.
Suzano’s historical past goes again over 100 years. We’re listed on the B3 inventory alternate in Brazil (SUZB3) and the NYSE (SUZ) in america.
Be taught extra at: suzano.com.br/en
About B&C Group
The B&C Personal Basis (www.bcprivatstiftung.at) is an impartial basis. Since its inception in December 2000, its purpose has been to foster Austrian entrepreneurship and strengthen Austria’s place as a enterprise hub. B&C acts as a steady core shareholder in Austrian industrial corporations by way of its holding corporations, the B&C Group (www.bcgruppe.at). B&C is core shareholder of Lenzing AG and holds majority stakes in Semperit AG Holding (54.2%) and AMAG Austria Metall AG (52.7%). By B&C Innovation Investments, B&C Group has been investing in tech-driven development corporations since 2016. It at the moment holds stakes in Awake Mobility, Citrine, Contextflow, Flightkeys, Frequentis, Kinexon, Klarx, Neoom, ParityQC, TriLite und TTTech.
View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20240612561637/en/
Press Contact:
B&C-Group: Jürgen Gangoly, Spokesperson, Cellphone: +43 664 2000260, E mail: j.gangoly@bcholding.at
Suzano S.A.: Hawthorn Advisors, E mail: suzano@hawthornadvisors.com
Supply: Suzano S.A.
