Sunday, July 20, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

Suzano completes purchase of 15% stake in Lenzing AG

Simon Osuji by Simon Osuji
August 31, 2024
in Politics
0
Suzano completes purchase of 15% stake in Lenzing AG
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Shares held by B&C Group were acquired for EUR 230 million

SÃO PAULO–(BUSINESS WIRE)–Suzano, the world’s largest pulp producer, today announces the completion of its acquisition of a 15% stake in Lenzing AG, the Vienna-listed leading global supplier of sustainable premium cellulosic fibres for the textile and non-wovens industry, from B&C Group. As announced in June this year, the transaction value is EUR 230 million (or EUR 39.70 per share). The agreement was subject to regulatory approval, which was granted without restrictions.


The long-term partnership between Suzano and B&C Group establishes that Suzano has the right to hold two seats on Lenzing’s Board and the option to acquire an additional 15% stake from B&C Group until the end of 2028. Following the sale of the 15% stake, B&C Group now holds 37.25% of Lenzing’s share capital.

Lenzing is a leading global supplier of premium wood-based cellulosic fibers (lyocell, modal, and viscose) for the production of clothing, home textiles, hygiene products, and non-woven materials.

Beto Abreu, CEO of Suzano, said:

“Lenzing’s unparalleled track record of innovation and best-in-class technology make it a global leader in developing sustainable solutions from wood. With this transaction, we intend to build our expertise in the textile market and identify how we can help strengthen the company’s competitive position.”

The purchase of the stake in Lenzing is aligned with two of Suzano’s key strategic goals – “Expand Boldly into New Markets” and “Play a Leading Role in Sustainability”. Its completion does not have a material impact on Suzano’s overall financial leverage and/or indebtedness.

Contacts

Hawthorn Advisors

Jamie Plotnek

suzano@hawthornadvisors.com

Source link

Related posts

A Diaspora Returnee and Business Success in Nairobi

A Diaspora Returnee and Business Success in Nairobi

July 19, 2025
Trump’s Department of Justice Asks for a 1-Day Sentence for Ex-Cop Convicted in Killing of Breonna Taylor

Trump’s Department of Justice Asks for a 1-Day Sentence for Ex-Cop Convicted in Killing of Breonna Taylor

July 18, 2025
Previous Post

Nigerian SEC approves local crypto exchanges in push for digital asset regulation

Next Post

United Nation provides emergency cash injection for global crisis hotspots

Next Post
United Nation provides emergency cash injection for global crisis hotspots

United Nation provides emergency cash injection for global crisis hotspots

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Aberdeen’s ADC extends rig inspection job with TotalEnergies in Suriname

Aberdeen’s ADC extends rig inspection job with TotalEnergies in Suriname

9 months ago
US museum repatriates 44 antiquities to Egypt, Italy and Turkey

US museum repatriates 44 antiquities to Egypt, Italy and Turkey

2 years ago
$279 Million Worth of Funds Enters Cryptocurrency Market

$279 Million Worth of Funds Enters Cryptocurrency Market

1 year ago
Checkout.com Ends Binance Contract Over Compliance Concerns

Checkout.com Ends Binance Contract Over Compliance Concerns

2 years ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Tanzania’s natural gas sector goes global with Dubai deal

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.