Brief: Suzano Acquires A 15 Percent Stake In Lenzing From B&C Group

Lenzing AG

12/06/2024 08:02

June 12 (Reuters) - SUZANO SA  SUZB3.SA :
    * NEW YORK- AND SÃO PAULO-LISTED SUZANO S.A. ACQUIRES A 15
PERCENT
STAKE IN LENZING AG FROM B&C GROUP
    * B&C WILL HOLD A 37.25 PERCENT STAKE IN LENZING AND KEEP
THE ROLE
AS CONTROLLING MEMBER OF THE NEW SYNDICATE, WITH SUZANO HOLDING
THE MINORITY STAKE OF 15 PERCENT
    * TOTAL ACQUISITION PURCHASE PRICE OF EUR 230 MILLION TO BE
FULLY
PAID AT CLOSING
    * SUZANO HAS THE OPTION TO ACQUIRE AN ADDITIONAL 15 PERCENT
STAKE
IN THE COMPANY FROM B&C UNTIL THE END OF 2028
    * THE AGREEMENT ALSO STIPULATES THAT B&C WILL REMAIN A 
COMMITTED
LONG-TERM SHAREHOLDER IN THE COMPANY

Further company coverage:  SUZB3.SA 

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